Which of the following increases U.S. aggregate demand?
a. a lower price level, increasing citizen's real wealth
b. a lower price level, reducing interest rates
c. a lower price level, increasing exports and decreasing imports
d. None of the above
d
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Consider the budget line in the above figure. If the consumer's income is $120, then the price of a movie is
A) $24 per movie. B) $12 per movie. C) $5 per movie. D) More information is needed to determine the price of a movie.
If the Apple Watch and the Samsung Gear S2 are considered substitutes, then, other things equal, an increase in the price of the Apple Watch will
A) increase the quantity demanded for the Apple Watch. B) increase the quantity demanded for the Gear S2. C) increase the demand for the Gear S2. D) decrease the demand for the Apple Watch.