If there is complete crowding out as a result of an increase in government spending there will be
A) a decrease in aggregate demand.
B) no change in aggregate demand.
C) an increase in aggregate demand.
D) a downward movement along the aggregate demand curve.
B
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The branch of economics which studies the behavior of entire economies is called
A) public economics. B) macroeconomics. C) microeconomics. D) normative economics.
When a tariff is imposed, a deadweight loss occurs because of: a. a loss in producer surplus
b. a fall in the price of the imported good. c. an increase in the supply of the good. d. a loss in total surplus.
In absence of externalities, private costs are greater than social costs
a. True b. False Indicate whether the statement is true or false
The term "Global South" refers to
A. developing countries in Asia, Africa, and Latin America. B. the Southern states of the United States. C. countries in the Southern Hemisphere. D. industrialized countries south of the equator.