Which one of the following will shift the consumption function upward?
A. higher interest rates
B. expectations that the economy will grow in the future
C. a decrease in money holdings
D. higher capacity utilization rates
Answer: B
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Which of the following is least likely to be considered a capital input?
A) a sewing machine B) a tractor C) a telephone D) a ten dollar bill
Would a tax on prescriptions drugs be more likely to be progressive or regressive? Why?
The law of demand includes the statement "other things being equal." These other things include all of the following EXCEPT
A. incomes. B. the price of the good itself. C. tastes. D. the price of related goods.
Refer to the information provided in Figure 31.2 below to answer the question(s) that follow.
Figure 31.2Refer to Figure 31.2. The highest unemployment rate occurs when the economy is at Point ________.
A. A B. B C. C D. D