If disposable income increases by $5 billion and consumer spending increases by $4 billion, the marginal propensity to consume equals:

The quantity of real GDP produced by one hour of labor is defined as

A) the advance in technology. B) economic growth. C) the growth rate of technology. D) real GDP per person. E) labor productivity.

In the context of the environment, the type of transactions costs that includes covering all the costs associated with the bargaining process, such as fees for attorneys, negotiators, and accountants, are called

A) search costs. B) collectivization costs. C) negotiation costs. D) monitoring and enforcement costs.