An increase in lifetime wealth
A) increase current labor supply and increase current consumption demand.
B) increase current labor supply and decrease current consumption demand.
C) decrease current labor supply and increase current consumption demand.
D) decrease current labor supply and decrease current consumption demand.
C
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The M2 multiplier in the United States is currently about
A) 16. B) 23. C) 4. D) 50. E) 1.
When the price of compact disc players decreases, the demand for compact discs rises while the demand for cassette tapes decreases. What does this imply about the relationship between compact disc players, compact discs, and cassette tapes?
What will be an ideal response?
How does the centrality of institutions and property rights in economic growth help to explain the predominance of rich countries in temperate climates and of poor countries in the tropics?
What will be an ideal response?
A large airline calculates that the additional cost of a having a passenger on a flight to the Bahamas as the cost of a bag of peanuts and a soft drink, which totals $1.50, but the airline's price is $600 for potential customers who want to buy vacant seats on the day of the flight. Which economic principle is this airline failing to utilize?