In a simple Keynesian model, an increase in income leads to an increase in
A) savings.
B) investment.
C) the price level.
D) the money supply.
A
Economics
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The economic point of view assumes central bankers, bureaucrats, elected politicians, and tax collectors
A) are immoral. B) act selfishly. C) respond to incentives. D) act in the national interest.
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Use the information in Scenario 4.2. At what price, if any, is the demand for artichokes completely elastic?
A) 50 B) 30 C) 10 D) 0 E) none of the above
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The aggregate demand for good X is Q = 20 - P. If the price rises from P = $4 to P = $5, what is the change in consumer surplus?
A) $4.50 B) $5.50 C) $15.50 D) $16
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An increase in household production will increase gross domestic product (GDP)
a. True b. False Indicate whether the statement is true or false
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