An increase in the number of consumers, all else held constant, will shift the
a. supply curve leftward.
b. demand curve leftward.
c. supply curve to the right.
d. demand curve to the right.
d. demand curve to the right.
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The classical growth theory is that real GDP per person ______.
A. only temporarily rises and then returns to the subsistence level B. grows forever C. is constant and does not change D. increases as the population grows
________ is defined as national income + transfers - taxes
A) Disposable income B) Personal income C) GDP D) Gross private domestic investment
The main cause of low per capita income is ________
A) a low level of capital B) a small workforce C) low productivity of capital and labor D) slow growth of capital and labor shares of income E) none of the above
If real interest rates in the United States fell and real interest rates in England rose, we would expect people to: a. increase their demand for British pounds. b. borrow more from U.S. sources
c. buy relatively more British assets. d. all of the above