Suppose consumers decrease their consumption expenditure because they worry about what their income will be in the future. There is
A) a rightward shift of the aggregate demand curve.
B) an upward movement along the aggregate demand curve.
C) a downward movement along the aggregate demand curve.
D) a leftward shift of the aggregate demand curve.
D
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Use the figure below to answer the following question.
At equilibrium, economic surplus is
A. 200. B. 350. C. 150. D. 700.
The monetary policy-making body of the Federal Reserve is the
A) Federal Open Market Committee. B) New York Federal Reserve Bank. C) regional Federal Reserve Banks. D) Board of Governors.
The industrial organization economics perspective locates the source of competitive advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above
In experimental tests of the ultimatum game:
a. the proposer often offers an even split of the "pie", and responders often reject smaller offers, consistent with the predictions of game theory. b. the proposer often offers an even split of the "pie", and responders often reject smaller offers, in contrast to the predictions of game theory. c. the proposer often offers an unfair split, taking the lion's share of the "pie" for him or herself, and responders often accept such offers, consistent with the predictions of game theory. d. the proposer often offers an unfair split, taking the lion's share of the "pie" for him or herself, and responders often accept such offers, in contrast to the predictions of game theory.