The economic impact of a change in spending, working through the multiplier, takes effect
a. immediately.
b. very quickly, with a small number of rounds of spending.
c. after a very long period of time.
d. after multiple rounds of spending occur.
d
Economics
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In the above figure, CBL is the cost of breaking the law. If it is illegal to sell, but not illegal to buy, then the price per unit will be
A) $500. B) $400. C) $300. D) $200.
Economics
When a perfectly competitive market is in long-run equilibrium, price is equal to marginal cost, the individual firm is operating at the minimum of its short-run and long-run average cost curves, and economic profit equals zero
Indicate whether the statement is true or false
Economics