Which of the following will cause the demand curve for product A to shift to the left?
A. Population growth that causes an expansion in the number of persons consuming A.
B. An increase in money income if A is a normal good.
C. A decrease in the price of complementary product C.
D. An increase in money income if A is an inferior good.
Answer: D
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A fiscal policy designed for maximum stimulus of economic growth must discourage current ________ and thus makes for, at least in the short run, a ________ even income distribution
A) consumption, less B) consumption, more C) private saving, less D) private saving, more
Which of the following is an economic argument used to explain why slavery persisted in the U.S.?
(a) Slavery crushed out individualism among slaves. (b) The social structure of slavery did not permit black leaders to lead revolts. (c) Slavery was an overall moral institution. (d) Slavery was a rational institution.