Assuming that the growth rate of full-employment output is 3%, and that the actual unemployment rate fell 2 percentage points in the last year, Okun's Law predicts that output growth rate over the past year was

Pollution taxes are paid out of the EPA Superfund in order to reduce automobile emissions

a. True b. False

John Maynard Keynes's central proposition that a dollar increase in disposable income would increase consumption, but by less than the increase in disposable income, means the marginal propensity to consume (MPC) is:

a. greater than or equal to one. b. equal to one. c. less than one, but greater than zero. d. negative.