In order for a nation to be able to consume more in the future, it needs to
A) produce less today in aggregate and save the difference between consumption and income.
B) produce more today in aggregate and save the difference between consumption and production.
C) consume more today in aggregate and borrow the difference between consumption and income.
D) consume less today in aggregate and save the difference between consumption and income.
D
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From the nineteenth century until the 1930s, the United states most consistently adhered to
A) the Bretton Woods system. B) a managed-float exchange rate system. C) a freely-floating exchange rate. D) the gold standard.
Refer to the figure above. If A forms a customs union with B, the value of trade diversion will be
A) $0. B) $10,000. C) $20,000. D) $40,000.
If there are low barriers to entry, a monopolist
A) might undertake investment to lower marginal cost in the face of a potential rival. B) will undertake investment to lower marginal cost in order to increase profits. C) will not undertake investment to lower marginal cost under any circumstances because profits are lower. D) Both A and B.
Utils are used by economists to measure the satisfaction a person obtains from consuming a good
a. True b. False Indicate whether the statement is true or false