Lower real interest rates
a. tend to shift the consumption function upward.
b. have no significant effect on consumption.
c. tend to shift the consumption function downward.
d. tend to move the consumer upward along the consumption function.
b
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Consider a monopolist who charges a single price to all of its customers. If this monopolist starts price discriminating, its output will ________ and its profit will ________.
A. rise; fall B. rise; rise C. fall; rise D. fall; fall
The money multiplier determines how much
A) real GDP will be expanded given an increase in autonomous investment. B) the monetary base will be expanded given a change in the quantity of money. C) the quantity of money will be expanded given a change in the monetary base. D) money demand will expand given a change in the quantity of money.
The supply curve for a monopolist
a. is its marginal cost curve b. is vertical because there are no close substitutes for its product c. is horizontal because there are no close substitutes for its product d. slopes upward e. does not exist
Which of the following is an accurate definition of a market?
a. a specific place where stocks are bought and sold b. a specific place where companies exchange goods c. a process of buyers and sellers exchanging goods and services d. a process of companies setting their preferred price