Which of the following increases U.S. aggregate demand?
a. a lower price level, increasing citizen's real wealth
b. a lower price level, reducing interest rates
c. a lower price level, increasing exports and decreasing imports
d. None of the above
d
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If the elasticity of supply of a resource is greater than zero but less than infinity, its income will comprise of:
a. only economic rent. b. only transfer earnings. c. salaries and traveling allowances. d. both economic rent and transfer earnings. e. salaries, traveling allowances, as well as other incentives.
What is the lowest price the firm would accept in the long run?
Explain why the amount that firms spend on advertising depends on the characteristics of their products
What will be an ideal response?
When two variables have a direct relationship, the slope is
A. zero. B. positive. C. negative. D. infinity.