Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth.
B. an improvement in technology.
C. a reduction in unemployment.
D. a change in society's preferences for motorcycles versus hybrid cars.
Answer: D
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When output exceeds planned expenditures, there is insufficient production in the economy
Indicate whether the statement is true or false
Analyze the following statement, and show what would happen in the long run if such advice were followed by the Fed: "The increase in the stock market has increased people's wealth
As a result, their consumption has increased, increasing aggregate demand and output. So the Fed needs to increase the money supply, since with higher income, people's demand for real money balances will be higher."
Rent-control laws dictate
a. the exact rent that landlords must charge tenants. b. a maximum rent that landlords may charge tenants. c. a minimum rent that landlords may charge tenants. d. both a minimum rent and a maximum rent that landlords may charge tenants.
Explain the difference between self-interest and selfishness.
What will be an ideal response?