The data in the table above shows the relationship between the Joneses' total consumption and total household income. Based on these data, total consumption varies
A) directly with their total household income.
B) independently of their total household income.
C) inversely with their total household income.
D) negatively with their income.
A
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Which of the following statements is true?
A) The marginal revenue of a monopolistically competitive firm will be positive at low prices and negative at high prices. B) The marginal revenue of a monopolistically competitive firm will be positive at high prices and negative at low prices. C) Because the demand curve for a monopolistically competitive firm is downward-sloping its marginal revenue will be negative. D) The marginal revenue of a monopolistically competitive firm will be always be positive.
Which one of the following, other things equal, will directly alter the U.S. balance of trade?
A. An increase in the balance on capital account. B. A decrease in U.S. goods exports. C. An increase in net transfers. D. A decrease in U.S. purchases of assets abroad.