The rate at which a consumer is willing to give up consumption in one period for additional consumption in another is known as ________
A) the marginal propensity to save
B) the marginal propensity to consume
C) the marginal rate of substitution
D) the average propensity to consume
C
Economics
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Suppose the Fed conducts an open market operation in which it buys government securities from a commercial bank. Why is there a multiplier effect on the quantity of money?
What will be an ideal response?
Economics
If bagels and cereal are substitutes, then the cross-price elasticity of demand between bagels and cereal will be:
A. greater than zero. B. less than zero. C. greater than one. D. less than one.
Economics