Monetary policy involves the use of money and credit controls to impact the macroeconomy.

An increase in real dividend income minus taxes represents

A) a pure substitution effect. B) a pure income effect. C) a combination of income and substitution effects. D) neither a pure income effect nor a pure substitution effect.

A decrease in the quantity of available resources would be represented by:

a. a steeper PPC. b. a point inside the PPC. c. an inward shift of the PPC. d. an upward movement along the PPC. e. a downward movement along the PPC.