In which of the decades below was the deficit as a percentage of GDP the largest?
A. The 1960s
B. The 1950s
C. The 1970s
D. The 1940s
Answer: D
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________ shifts the consumption function upward
A) A decrease in the marginal propensity to consume B) An increase in the price level C) An increase in the real interest rate D) An increase in expected future disposable income E) An increase in disposable income
Explain why the LDCs are unable to invest much in capital goods and human capital
Economists will readily confess that even after centuries of systematic observation of their subject matter, of data collecting, theory building, empirical testing, and amassing historically relevant material, they still usually arrive at different and sometimes even highly conflicting conclusions and recommendations
Indicate whether the statement is true or false
One reason that the quantity demanded of a good increases when its price falls is that the:
A. price decline shifts the supply curve to the left. B. lower price shifts the demand curve to the left. C. lower price shifts the demand curve to the right. D. lower price increases the real incomes of buyers, enabling them to buy more.