The foreign purchases effect suggests that a decrease in the U.S. price level relative to other countries will:
A. shift the aggregate demand curve leftward.
B. shift the aggregate supply curve leftward.
C. decrease U.S. exports and increase U.S. imports.
D. increase U.S. exports and decrease U.S. imports.
D. increase U.S. exports and decrease U.S. imports.
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Which economic concept does the expression "time is money" reflect?
a. opportunity cost b. specialization c. market exchange d. comparative advantage e. efficiency
If the MPC increases in value, what will happen to the slope of the consumption function?
a. The slope will decrease and the consumption function will become flatter. b. The slope will decrease and the consumption function will become steeper. c. The slope will increase and the consumption function will become steeper. d. The slope will increase and the consumption function will become flatter.