It is difficult for economists to make observations and develop theories, but it is easy for economists to run experiments to generate data to test their theories
a. True
b. False
Indicate whether the statement is true or false
False
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Explain why the marginal propensity to save and the marginal propensity to consume sum to 1.
What will be an ideal response?
If the marginal propensity to consume, MPC, is less than 1 and a household's disposable income increases by $2,000, the household's consumption will
What will be an ideal response?
Which of the following will NOT shift the aggregate demand curve?
A. a change in government expenditures B. depreciation in the value of the national currency C. a change in the domestic marginal tax rates D. a change in the domestic price level
An economy wants to increase its current level of investment, it must:
A. sacrifice future consumption. B. print more money. C. offer more stocks and bonds to financial investors. D. sacrifice current consumption.