An important factor in determining a country's rate of economic growth is
A) the diversity of its population.
B) its rate of saving.
C) the size of its labor force.
D) the proportion of the adult population that is working.
B
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Everything else held constant, if consumption expenditure falls by 160 when disposable income falls by 200, the mpc is
A) 0. B) 0.2. C) 0.4. D) 0.8.
Which of the following statements is FALSE?
A) Other things being equal, society's overall well-being is reduced when a perfectly competitive industry is monopolized. B) When both a perfectly competitive industry and a monopolist face the same production costs and the same market demand curve,the monopolist offers a lower level of output for sale. C) The profit-maximizing monopolist will always produce only along the inelastic portion of the demand curve, whereas equilibrium in a perfectly competitive industry always occurs along the elastic portion of the demand curve. D) When both a perfectly competitive industry and a monopolist face the same production costs and the same market demand curve, the monopolist charges a higher price for its product than what would be charged in a perfectly competitive situation.