For a small country with a closed economy, if the marginal propensity to save is equal to 0.2, then the spending multiplier indicates that a $10 exogenous increase in government spending will lead to a $20 increase in gross domestic product (GDP).

Answer the following statement true (T) or false (F)

False

Economics

What term describes demand with an elasticity of less than 1?

a) unitary elastic b) inelastic c) low d) elastic

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Economics

As long as TVC < TR, a firm will have a positive level of output in the short run

a. True b. False Indicate whether the statement is true or false

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Economics