During the worst of the Great Depression, in 1932 and 1933, disposable income was so low that it actually ________ aggregate consumption, so that aggregate saving became ________
A) rose above, positive
B) rose above, negative
C) fell below, positive
D) fell below, negative
D
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Table 7-5 Stereos produced 0 1 2 3 4 5 6 Total cost (in $) 200 325 410 475 550 660 825 Table 7-5 shows short-run total cost figures for a stereo manufacturer. At what output level does short-run average variable cost reach a minimum?
A. 2 B. 3 C. 4 D. 5
Suppose Melita is willing to pay a maximum of $30 for a pair of normal sunglasses and $36 for the same pair with a double UV-protection filter. If the unit cost of upgrading a product is $6, the seller will upgrade the product if Melita pays at least $35 for it
Indicate whether the statement is true or false
For an economy at full employment, an increase in the quantity of money will lead to which of the following sequences of shifts in aggregate demand and supply curves?
What will be an ideal response?
Justin and Maria work at a restaurant. Jose can make either 10 pancakes or 4 waffles; Maria can make either 8 pancakes or 2 waffles. According to this scenario
A. Maria has the absolute advantage in making pancakes. B. Maria has the absolute advantage in making waffles C. Maria has the comparative advantage in making pancakes. D. Justin has the comparative advantage in making pancakes.