When the price level falls, consumers may feel wealthier and the consumption function will shift upward
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
What is one reason a gambler might bet $1,000 that a team that is ranked sixteenth will win the NCAA basketball tournament?
A) irrationality B) overconfidence C) exuberance D) gambler's fallacy
The rate at which the Fed lends money to banks is
a. the prime rate. b. fixed at 4%. c. the federal funds rate. d. the discount rate.
We derive the demand curve for X from indifference curves and a budget constraint by changing the
A. consumers? preferences. B. price of X. C. price of Y. D. level of income.
During the labor dispute of 2011, the owners contended that the NFL players were
A. decertifying their union as an artificial tactic. B. forming a players-owned league. C. signing with Canadian teams. D. striking.