If the marginal propensity to save (MPS) is 0.25, the value of the spending multiplier is:

In 2011, Armenia had a real GDP of $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. What was Armenia's economic growth rate from 2011 to 2012?

A) 0.38 percent B) 9.0 percent C) 3.8 percent D) 8.3 percent

In the above figure, what is the efficient quantity of hot dogs to produce?

A) 2 thousand per day B) 4 thousand per day C) 6 thousand per day D) The efficient quantity cannot be determined without knowing the PPF for this economy.