An increase in investment by US firms that is intended to maintain US competitiveness in world markets represents __________ in the US
a) an increase in autonomous expenditure
b) a decrease in autonomous expenditure
c) an increase in induced expenditure
d) a decrease in induced expenditure
a) an increase in autonomous expenditure
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Refer to Figure 7-1. Under autarky, the consumer surplus is area
A) S + V. B) S. C) R. D) R + S + V.
What are the factors of production and their prices?
What will be an ideal response?
Which of the following is an example of an efficiency wage?
a. a higher wage paid to a more experienced worker b. a below-equilibrium wage paid by a small business exempt from minimum-wage laws c. an above-equilibrium wage paid by a firm to reduce turnover costs d. a wage tied to participation in a government-sponsored job training program
A good is characterized by network economies if it:
A. is widely advertised on television. B. becomes more valuable as more people own it. C. can be used by more than one person at a time. D. becomes cheaper to produce as more people buy it.