Dissaving occurs whenever
A. Current unemployment falls.
B. Current consumption exceeds current income.
C. Current supply exceeds current production.
D. Current income falls.
Answer: B
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In a closed economy, a decrease in the money supply will
A) shift the aggregate demand schedule to the left. B) shift the aggregate supply schedule to the right. C) shift the IS curve to the left. D) shift the LM curve to the right.
The marginal rate of substitution measures the slope of the:
a. total utility curve. b. demand curve. c. budget line. d. indifference curve.
Suppose a perfectly competitive firm is producing 1,000 units of output and the marginal cost of the 1,000th unit is $7. If the firm can sell each unit of output for $7 and the firm's revenue is sufficient to cover its variable cost, the firm should:
A. increase production to increase profits. B. increase price to increase profits. C. leave production unchanged. D. decrease production to lower losses.
most frequently used monetary policy tool is
What will be an ideal response?