Which of the following statements is FALSE?
A) disposable income - saving = consumption
B) consumption + saving = disposable income
C) saving = disposable income - consumption
D) consumption = saving - disposable income
D
Economics
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So long as a firm is enjoying increasing marginal returns, a one unit increase in output will cause marginal costs to ________ and total costs to ________
A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease
Economics
When the current U.S. income tax system was instituted in 1913, the rate on the highest tax bracket was _____
a. 28 percent b. 1 percent c. 15 percent d. 7 percent
Economics