If the consumption schedule is a straight line, it can be concluded that the:
A. APC is necessarily constant
B. MPC is zero
C. MPC is constant at various levels of income
D. APC is equal to the MPC
C. MPC is constant at various levels of income
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The above figure shows a nation's production function. Point B is ________ and ________ because ________
A) unattainable; inefficient; the nation is using resources efficiently but they could be more efficient B) unattainable; inefficient; the nation is using resources inefficiently C) attainable; inefficient; the nation is using resources inefficiently D) unattainable; efficient; the nation would be using resources efficiently if they could attain this level of production E) attainable; efficient; the nation is using resources efficiently
Consider the market for dollars. The higher the exchange rate, the ________ is the expected profit from holding foreign currency and the greater is the ________
A) larger; quantity of dollars supplied B) larger; leftward shift in the demand curve for dollars C) smaller; quantity of dollars supplied D) smaller; leftward shift in the demand curve for dollars