According to the paradox of thrift, when people try to save more, this causes
a. intended investment to automatically rise to match the change in the increased level of saving
b. national income to rise causing saving to rise
c. levels of income to remain unchanged causing saving levels to rise
d. saving to be greater than intended investment, which causes national income to fall, causing saving to remain constant or actually fall
e. saving to be less than investment, which causes national income to rise causing saving to rise
D
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A) risk sharing B) profitability C) liquidity D) information
The currency of the European Union, the euro, was established as part of the Bretton Woods agreements
a. True b. False Indicate whether the statement is true or false
An increase in the wages paid to fishermen will have what effect on the fish market equilibrium?
A. Price will decrease, and quantity will decrease. B. Price will increase, and quantity will increase. C. Price will decrease, and quantity will increase. D. Price will increase, and quantity will decrease.
In Figure 24.2, the profit-maximizing level of output is
A. Between 4 and 5 units. B. 4 units. C. Between 2 and 3 units. D. Between 5 and 6 units.