All of the following are understandable economic reasons for reductions in consumer spending on durable goods except
A) economic uncertainty.
B) increases in personal income taxes.
C) declines in wealth levels.
D) falling interest rates.
D
Economics
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If the United States, at the point where it is currently producing, must give up the production of 500 bicycles (B) to produce 20 additional tractors (T) with the same resources, its opportunity cost may be expressed as:
A) 1/25B = 1T. B) 1B = 1/25T. C) 1B=1T. D) 1B=25T.
Economics
A GDP price chain price index number of 120.0 for a given year indicates that prices in that year are 20 percent higher than prices in the base year
a. True b. False Indicate whether the statement is true or false
Economics