The trade-off between current consumption and the production of capital goods is also a trade-off between
A) the future cost for capital goods and future cost of consumption goods.
B) having fewer needs and more wants in the future.
C) satisfying the needs of the poor and the wants of the wealthy.
D) current consumption and future consumption.
D
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A major disruption in financial markets characterized by sharp declines in asset prices and firm failures is called a
A) financial crisis. B) fiscal imbalance. C) free-rider problem. D) "lemons" problem.
The aggregate demand curve reflects:
a. a direct relationship between the price level in an economy and the real GDP demanded b. a direct relationship between real GDP demanded and total unemployment. c. an inverse relationship between the price level in an economy and the nominal GDP demanded. d. an inverse relationship between the price level in an economy and the real GDP demanded. e. an inverse relationship between the real GDP demanded and total unemployment.