The decline in investment spending accounts for how much of the decline in output during a recession?
a) one-third
b) one-seventh
c) two-sevenths
d) two-thirds
Ans: d) two-thirds
Economics
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Suppose Jenny's marginal utility of fish is 40 and her marginal utility from chips is 20. The price of fish is $10 and the price of chips is $1. What should Jenny do to maximize her utility? Explain your answer
What will be an ideal response?
Economics
Which of the following is not one of the functions of money?
a. unit of account b. means of deferred payment c. encouraging people to barter d. medium of exchange
Economics