Which of the following is NOT counted as an economic resource?
a. Mental abilities of labor.
b. Money supply.
c. Entrepreneurship.
d. Physical labor.
e. All of the above are included.
.B
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The aggregate-demand curve shows that an increase in the price level
a) decreases the real value of goods and services demanded in the economy. b) decreases the dollar value of goods and services demanded in the economy. c) increases the real value of goods and services demanded in the economy. d) increases the dollar value of goods and services demanded in the economy.
The marginal propensity to consume equals
A) consumption expenditure divided by the change in disposable income. B) the change in consumption expenditure divided by disposable income. C) the change in consumption expenditure divided by the change in disposable income. D) consumption expenditure divided by disposable income. E) the change in autonomous consumption divided by the change in induced consumption.