Households ________ factors of production and ________ goods and services
A) demand; supply B) demand; demand C) supply; supply D) supply; demand
D
Economics
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When the price of a product increases, the marginal revenue product curve in a perfectly competitive market
A) does not change. B) becomes flatter. C) shifts to the right. D) shifts to the left.
Economics
Assume that consumption in the United States is $9,000 billion in 2009. If the MPC is 0.8 and disposable income increases by $1,000 billion in 2010, then the level of consumption in 2010 will be
A. $10,000 billion. B. $9,800 billion. C. $9,000 billion. D. $7,200 billion.
Economics