Ten years ago, Veronica’s country went through a recession. Many people struggled to get by. The economy has since recovered, but many people are reluctant to spend much of their income, preferring to save as much as possible in case bad economic times return. What impact will this have on economic growth?
a. It will have little impact on growth.
b. It will slow economic growth.
c. It will boost economic growth.
d. It will slow growth in the long term but boost it in the short term.
b. It will slow economic growth.
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Which of the following is likely to be an extreme view taken by critics of illegal immigration?
A. Illegal aliens are close substitutes for legal resident workers B. Illegal workers accept jobs that legal residents are unwilling to do C. Undocumented workers do not displace legal residents from their jobs D. Undocumented workers are complements to legal resident workers
Which of the following signals the start of a new expansion?
a. A boom period b. A peak c. An inflation d. A contraction e. A trough
Which would be one of the factors that shift the aggregate demand curve? A change in:
a. Productivity b. Profit expectations on investment projects c. Domestic resource availability d. Prices of imported resources
For a monopolist, the market demand curve:
A. is equal to the monopolist's MR curve. B. is not important, since the monopolist is the only producer. C. must be horizontal. D. is also the demand for the monopolist's product.