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Author Question: In an economy that has no foreign trade, if real GDP declines by 160 million following a decline in ... (Read 74 times)

big1devin

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on: Jun 30, 2018
In an economy that has no foreign trade, if real GDP declines by 160 million following a decline in investment spending of 40 million, then the marginal propensity to consume must be equal to _____.
 a. 2
  b. 0.33
  c. 4
  d. 0.75
  e. 0.4

Question 2

The law of demand states that, ceteris paribus, an increase in
 a. price causes quantity demanded to increase.
  b. price causes quantity demanded to decrease.
  c. quantity demanded causes price to increase.
  d. quantity demanded causes price to decrease.


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at

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


big1devin

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

vickybb89

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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