Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher
B. higher; potential
C. lower; higher
D. lower; potential
Answer: B
Economics
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According to the textbook, people add to their stock of human capital by
A) divesting of their personal assets. B) investing in their personal skills. C) rearranging their pension portfolios. D) attempting to systematically reduce, rather than expand upon, their human capabilities. E) engaging in all the above.
Economics
List three reasons why oligopolies are considered to be inefficient
What will be an ideal response?
Economics
There are no costs to inflation if it is fully anticipated
Indicate whether the statement is true or false
Economics
The father of modern economics that wrote The Wealth of Nations is:
a. Karl Marx b. John Maynard Keynes c. Adam Smith d. Thorstein Veblen
Economics