If consumption expenditures fall, then in the short run
a. inflation and unemployment rise.
b. inflation rises and unemployment falls.
c. inflation falls and unemployment rises.
d. inflation and unemployment fall.
c
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The person often credited with inventing modern game theory is
A) John Nash. B) Albert Einstein. C) John von Neumann. D) Isaac Newton.
The shrinking gap between the income levels of poor and rich countries is known as the
a. conservative hypothesis. b. divergence hypothesis. c. convergence hypothesis. d. confluent hypothesis.
An increase in equilibrium price and a decrease in equilibrium quantity is most likely the result of:
A. an increase in demand. B. an increase in supply. C. a decrease in demand. D. a decrease in supply.
The burden of a regressive tax ________ as a percentage of income as income ________.
A. does not change; rises B. rises; falls C. rises; rises D. does not change; falls