In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is .4. If income is $20,000, then consumption is:
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In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is .4. If income is $20,000, then consumption is:
$8,000
$9,000
$10,000
$11,000
$9,000
Suppose there are two economies, Alpha and Beta, which have the same production possibilities curves. If Beta devotes more resources to produce capital goods than consumer goods as compared to Alpha, then in the future:
Alpha will experience greater economic growth than Beta
Beta will experience greater economic growth than Alpha
Alpha will not be able to achieve full employment or productive efficiency
Beta will not be able to achieve full employment or productive efficiency
Beta will experience greater economic growth than Alpha
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