An increase in expected future income will ________.
A. increase aggregate supply
B. increase aggregate demand
C. decrease aggregate demand and aggregate supply
D. increase aggregate demand and aggregate supply
Answer: B
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Refer to Mexico and Japan. What is the cost of producing cloth in Japan?
a. 1/2 bushel of food per bolt of cloth.
b. 3/4 bushel of food per bolt of cloth.
c. 4/3 bushels of food per bolt of cloth.
d. 3 bushels of food per bolt of cloth.
Suppose the equilibrium price in a perfectly competitive industry is $100 and a firm in the industry charges $112 . Which of the following will happen?
a. The firm will not sell any of its output. b. The firm will sell more output than its competitors. c. The firm's profits will increase. d. The firm's revenue will increase. e. The firm will gradually take over the entire industry.
Why is regulation necessary to achieve “universal service“?
What will be an ideal response?
The issuing of tradeable pollution permits is a government-involved approach to dealing with pollution.
Answer the following statement true (T) or false (F)