In the long run,
a. higher consumption spending means a larger capital stock and a higher standard of living
b. higher investment spending means higher interest rates
c. higher investment spending means a larger capital stock and a higher standard of living
d. higher interest rates means higher consumption spending
e. higher government spending means a larger capital stock and a higher standard of living
C
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After investigating an idea to open a rooftop restaurant in the downtown area of your community, you discover that any rooftop restaurant would violate city regulations. These circumstances would not be considered normal due to:
A. innovation. B. market failure. C. intervention. D. goals other than profit.
Liquidity can be defined as the
a. cash value of money. b. value of money adjusted for inflation. c. value of fiat money when used for spending. d. ease with which an asset can be converted to a spendable asset.
An income elasticity less than zero tells us that the good is:
A. an inelastic good. B. a Giffen good. C. an inferior good. D. a normal good.
Occurs whenever the quantity supplied is greater than the quantity demanded
What will be an ideal response?