When Jack's income increases by $1,000, he spends an additional $850 dollars. This implies that his marginal propensity to consume is 0.85

The CPI overstates inflation because the average consumer buys

A) less of those goods whose relative price has risen. B) more of those goods whose relative price has risen. C) lower quality goods if they have a choice. D) the same basket of goods every week. E) a generally random assortment of goods and services each week because what is purchased depends on what the consumer needs.

Which types of firms have limited liability?

A) corporations B) corporations and partnerships C) partnerships D) proprietorships