The marginal propensity to save is:
a. the change in saving divided by the change in disposable income.
b. the change in disposable income divided by the change in saving.
c. saving divided by disposable income.
d. disposable income divided by saving.
e. saving divided by consumption.
a
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Identify the correct statement about the aggregate supply curve
a. The aggregate supply curve is irrelevant for determining macroeconomic equilibrium. b. The aggregate supply curve shows the various quantities of a particular good that is produced in the economy. c. The aggregate supply curve shows an inverse relationship between price level and employment. d. The aggregate supply curve shifts inward with an increase in consumer spending, investment, government spending, and net exports. e. The aggregate supply curve relates total output in the economy to alternative price levels.
Most of the world's population lives in:
A. North America. B. the DVCs. C. Western Europe. D. the IACs.