What does not raise consumer expenditures?
What will be an ideal response?
- decrease in price level
- decrease in the value of the dollar
- decrease in interest rates
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Slope is calculated as the
A) change in the vertical variable. B) change in the vertical variable divided by the change in the horizontal variable. C) change in the horizontal variable divided by the change in the vertical variable. D) the vertical axis divided by the horizontal axis.
Between 1960 and 2001, the labor force participation rate increased for each of the following groups except
a. married women b. married men c. single women d. single men
In which of the following situations would using a rule of thumb be most appropriate?
a. You are late for an important job interview and have to grab lunch at a restaurant you have never been to before. b. You are purchasing a home as a first-time homebuyer and realize you don’t have much information to go on. c. You are researching software options for a new startup and have access to expert opinions. d. You are weighing the marginal utility of entering the workforce versus seeking a postgraduate degree.