What kind of changes would be expected in the demand of a country that has a growing population?
a) a rise in the demand for recreation
b) a shift in the demand for high-quality food
c) a rise in the demand for shelter
d) a lowering in the demand for automobiles
Ans: c) a rise in the demand for shelter
Economics
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As income rises, the share of income spent on food in the United States
A) falls. B) remains constant at 15 percent. C) remains constant at 33 percent. D) rises.
Economics
If leakages are greater than injections, equilibrium output will be
A. Less than full-employment output, and an inflationary gap will occur. B. More than full-employment output, and an inflationary gap will occur. C. More than full-employment output, and a recessionary gap will occur. D. Less than full-employment output, and a recessionary gap will occur.
Economics