The __________ shows a direct relationship between consumption spending and disposable income.
A. consumption function
B. aggregate demand curve
C. investment demand curve
D. supply of income curve
Answer: A
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In the figure above, if the firm is regulated using an average cost pricing rule, the economic loss created is equal to the area of
A) ABG. B) BEFG. C) BCFG. D) BCE. E) None of the above because there is no economic loss created.
The term used to describe a more realistic conception of human problem-solving that assumes less than perfect analysis is: a. framing
b. compartmentalizing. c. countercyclical policy. d. bounded rationality.
If individuals were paid for their household production, GDP would: a. increase
b. not change, but GNP would increase. c. decrease. d. not change, but GNP would decrease.
A country which does not devalue when financial markets expect it to will probably suffer
A) a real appreciation of its currency. B) higher interest rates. C) a default on its national debt. D) all of the above E) none of the above