An increase in the wealth of households, other things remaining the same, can result in ____ the consumption function.
A. no effect on
B. an upward shift in
C. a movement to the left along
D. a downward shift of
Answer: B
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GDP is: a. the value of all final goods and services produced domestically within a given period of time
b. the value of all final good and services produced anywhere in the world by a nation's firms within a given period of time. c. the value of all final goods and services produced by a government within a given period of time. d. the sum of all currency and coins in circulation.
The U.S. economy experienced a significant slowdown in productivity growth that lasted from about 1973 to about __________
Fill in the blank(s) with correct word
An increase in the price of the U.S. dollar in terms of euros will cause, ceteris paribus,
A. European goods to be cheaper to residents of the United States. B. Higher interest rates in the United States. C. European goods to be more expensive to residents of the United States. D. A lower European inflation rate.
Which statement is true?
A. Some monopolists are imperfect competitors. B. Most monopolists are imperfect competitors. C. All monopolists are imperfect competitors. D. None of these statements are true.