In the long run, most economists agree that a permanent increase in government spending leads to ________ crowding out of private spending
A) complete B) partial
C) no D) more than complete
A
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The amount of a product that people are willing and able to purchase at a specific price is referred to as the:
a. demand. b. quantity demanded. c. law of demand. d. consumption function. e. purchasing power.
The relative decline in goods production compared to services produced means that we're producing fewer goods than in earlier decades.
Answer the following statement true (T) or false (F)
If Tom's demand for leisure decreases as the wage increases:
A. the income effect outweighs the substitution effect. B. the substitution effect outweighs the income effect. C. the income effect is completely offset by the substitution effect. D. there is insufficient information.
Refer to the information provided in Figure 13.7 below to answer the question(s) that follow. 
Figure 13.7 Refer to Figure 13.7. The figure shows a ________ monopoly.
A. natural B. strategic resource C. patent D. profit-maximizing