An increase in the price level will:
a. make the consumption function flatter.
b. make the consumption function steeper
c. increase consumption because wages will increase.
d. decrease consumption because falling interest rates make it cheaper to borrow.
e. decrease consumption because the value of net wealth will decrease.
e
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Which is the largest component of aggregate expenditure?
A) consumption expenditures B) government expenditures C) net export expenditures D) planned investment expenditures
With the internationalization of our economy, the Federal Reserve has had a much more difficult time conducting monetary policy because of _________________.
Fill in the blank(s) with the appropriate word(s).
According to the theory of comparative advantage, a country
A. exports goods in which it has absolute advantage. B. imports the goods in which it has a comparative advantage. C. imposes tariffs on goods in which it does not have comparative advantage. D. exports the goods in which its has a comparative advantage.
Singapore's health care system includes the following major elements, except:
A. Government mandates designed to promote competition on price and quality among health care providers B. High out-of-pocket costs to consumers C. Laws requiring people to save for future health expenditures D. A national health insurance plan for its citizens provided by the government