Sociopsychiatric explanations of consumer behavior include the
A. Desire for ego and status.
B. Level of wealth.
C. Prices of other goods.
D. Level of income.
Answer: A
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Use the following diagram to answer the next question.
Based on this diagram, we can say ________.
A. crowding out is limiting the effectiveness of expansionary monetary policy B. investment demand will not respond when interest rates change C. there is a liquidity trap D. monetary policy is likely to be pro-cyclical
If a nation remains poor over time, it could be that:
a. c and e. b. d and e. c. the population growth rate is at least as much as the national GDP growth rate. d. the per capita real GDP growth rate is larger than the population growth rate. e. the national real GDP growth rate is lower than the population growth rate.
The excess capacity theorem states that
a. society is worse off with fewer monopolistic competitors. b. costs of production under monopolistic competition can be lowered by reducing the number of producers. c. lack of excess capacity leads to shortages during periods of unexpected growth in demand for goods produced by monopolistic competition. d. there is too much choice in our economy.
In this graph of choice set, price change causes the slope of budget lines to change
Indicate whether this statement is true or false