In 2015, exports represented:
A. about 13 percent of U.S. GDP.
B. about 1 percent of U.S. GDP.
C. about 30 percent of U.S. GDP.
D. nearly 20 percent of U.S. GDP.
A. about 13 percent of U.S. GDP.
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If your marginal propensity to consume is 0.8, how much more would you have to make in disposable income in order to save $10,000?
a. $12,500 b. $20,000 c. $50,000 d. $80,000
Suppose Chip's Chips produces bags of potato chips that sell for $3 a bag. What was the total revenue for Chip's Chips?
A. Cannot answer this question without knowing the cost per bag. B. Cannot answer this question without knowing the quantity of bags sold. C. Cannot answer this question without knowing the cost per bag and the quantity of bags sold. D. Cannot answer this question without knowing what market share they hold.