If Lily's consumption function is of the form [C = 100 + 0.8Y], her saving equals zero at an income level of

The economic growth rate is measured as the

A) amount of real GDP. B) annual percentage change of the population. C) amount of population. D) annual percentage change of real GDP. E) annual percentage change of employment.

Which of the following is true under conditions of pure competition?

A. There are differentiated products B. The market demand curve is perfectly elastic C. No single firm can influence the market price by changing its output D. Each individual firm has the ability to set its own price