We define autonomous expenditure to be expenditure that:
A. depends on how much income changes in the economy.
B. that changes under the guidance of the government.
C. is unaffected by the current level of income in the economy.
D. people make that pertains to the auto industry.
C. is unaffected by the current level of income in the economy.
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In the fooling model, what is held constant along a SAS curve?
A) the expected price level B) the nominal wage rate C) the expected price level and the nominal wage rate D) the real wage rate E) the nominal and real wage rates
If the benefits of X = $50 and the price of X = $50, then
A. you will be indifferent between buying X and keeping your money. B. $0 is the reservation price. C. $100 is the reservation price. D. you should buy X.
If each of us relied exclusively on the market to determine what to buy, we would probably end up with few, if any:
A. streetlights. B. strawberries. C. televisions. D. raincoats.
Briefly describe changes in life expectancy, average height, and infant mortality in the United States since 1850
What will be an ideal response?