A decrease in the price level will _____
a. shift the consumption function upward
b. shift the consumption function upward
c. result in an upward movement along the consumption function
d. result in a downward movement along the consumption function
e. shift the consumption function downward
a
You might also like to view...
Refer to Table 4-7. If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor supplied?
A) 80,000 B) 550,000 C) 630,000 D) 1,180,000
Many economists view ________ as explaining most of the increase in the natural rate of unemployment in the U.S. from 1960 to 1980
A) the rise in the percentage of young workers in the labor force B) an increase in the percentage of the working-age population receiving disability insurance C) a decrease in the size of the prison population D) increased use of temporary workers
Other things being equal, an increase in U.S. interest rates would be likely to cause an increase in the capital account surplus or a decrease in the capital account deficit
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. Assume the market is initially at Point B and that pizza is a normal good. A decrease in income would cause the market to move from Point B on demand curve D2 to
A. demand curve D1. B. demand curve D3. C. Point A on demand curve D2. D. Point C on demand curve D2.