Place point B on the graph to indicate where the United States economy operated in 1943.
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One of the main reasons that explains why the Industrial Revolution started in Britain is that:
A) economic agents in Britain opposed creative destruction. B) Britain was a command economy. C) Britain had inclusive institutions. D) property rights were absent in Britain.
Given whatever income they have, consumers make consumption choices to maximize the
a. total utility of the goods they consume b. marginal utility of the goods they consume c. average utility of each good they consume d. number of goods they buy e. prices of goods they buy
Figure 10-3
Starting from long-run equilibrium at point A in , at which of the following points would short-run equilibrium occur immediately following an unanticipated increase in stock prices?
a.
A
b.
B
c.
C
d.
D
Consumers will ________ interest-sensitive consumption spending, when interest rates are higher
Fill in the blank(s) with the appropriate word(s).