A change in the price of a service leads to a change in quantity demanded of the service.
Answer the following statement true (T) or false (F)
True
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In the aggregate expenditures model, equilibrium occurs if:
a. consumption equals investment b. inventory equals investment. c. aggregate expenditures equal consumption. d. aggregate expenditures equal disposable income.
Which statement is false?
A. Induced consumption is never negative. B. Autonomous consumption is constant. C. When C is positive, saving is negative. D. When consumption is smaller than disposable income, saving is positive.
In the early 1920s U.S. consumer prices fell, while Germany experienced hyperinflation. According to the ideas of shoeleather costs and menu costs, U.S. households (relative to German households) made _____ frequent trips to the bank and U.S. firms changed prices _____ frequently
Fill in the blank(s) with correct word
Which of the following statements is most accurate about human brain modularity?
A. System 1 uses heuristics, system 2 is more calculating, and both are equally important in decision making. B. Both systems regularly use both heuristics and conscious calculations, and both are equally important in decision making. C. System 1 uses heuristics, system 2 is more calculating, and system 2 regularly overcomes system 1's heuristics to make decisions. D. System 1 uses heuristics, system 2 is more calculating, and most decisions are made by system 1.