Strictly speaking, which entity below makes decisions?
A) The House
B) The Senate
C) Congress
D) All of the above.
E) None of the above.
E
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A rise in the price level has a direct effect on spending because
A) the real value of the money people have decreases and they can buy less with it. B) a higher price gives people more money, and so the more goods and services they can buy. C) the real value of the money people have varies directly with the price level. D) people like to spend more when prices are higher.
Means-tested government programs tend to reduce saving. What are means-tested programs and how do they reduce saving?
Only a change in the price level can cause shifts in both the aggregate expenditure line and the aggregate demand curve.
a. true b. false
Considering the concept of cross-price elasticity, if two goods are substitutes:
A. an increase in the price of one causes an increase in the demand for the other. B. an increase in the price of one causes a decrease in the demand for the other. C. the cross-price elasticity is negative. D. a decrease in the price of one causes an increase in the demand of the other.