Following three years of negative growth, restaurant sales in the United States were expected to increase 3.6 percent in 2011. If the increase in restaurant sales increases aggregate expenditure,
What will be an ideal response?
unplanned investment will decrease
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According to real business cycle theory, business cycles
a. can be eliminated with appropriate monetary and fiscal policy. b. are natural and efficient reactions to changes in productivity. c. do not occur. d. occur infrequently. e. none of the above.
Kyra's Vedic Secrets produces hair masks and hair spa products. The firm advertises a secret natural ingredient used in its products that completely stops hair fall and improves hair growth. Consumers have a high perception of its products' quality and are ready to pay a marginally higher price for its products than for its rival's products. The firm described in this example is operating in a(n)
_____. a. perfectly competitive market b. monopoly c. oligopoly d. monopolistically competitive market
Which presidential candidate made this pledge: "Read my lips: no new taxes"?
A. Gerald Ford (1974) B. Jimmy Carter (1976) C. Ronald Reagan (1980) D. George H.W. Bush (1988)
Which of the following statements is true?
A. There are more attainable points than unattainable points in every PPF diagram. B. If scarcity did not exist, neither would a PPF. C. All PPFs are downward-sloping straight lines D. The concept of opportunity costs cannot be illustrated within a PPF framework.