Federal transfers are expected to grow significantly in the coming decades, due especially to increases in ________
A) federal government consumption
B) federal deficits
C) Medicare and Medicaid
D) Social Security payments
C
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If the total cost of producing 10 units equals $90, and the average total cost of producing 11 units equals $8.75, then the marginal cost of the eleventh unit produced: a. is definitely greater than the marginal cost of producing the tenth unit. b. is definitely less than the marginal cost of producing the tenth unit. c. is less than the average total cost of producing ten units
d. is greater than the average total cost of producing ten units.
The nation has its own MPC. When disposable income increases from $300 billion to $400 billion, national consumption increases from $300 billion to $360 billion. At Y = $400 billion, the MPC is:
A. 0.2. B. 0.5. C. 0.6. D. 0.67.