When interest rates go down, people are
a. more likely to borrow
b. less likely to borrow
c. does not affect a person's consumption
d. None of the above
a
Economics
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When Tom's income increases, his demand curve for Mountain Dew shifts rightward because the higher income increases his marginal utility of Mountain Dew
Indicate whether the statement is true or false
Economics
__________ identifies the level of Real GDP the economy produces when all economywide adjustments have taken place and there are no misperceptions on the part of workers
A) Short-run equilibrium B) Disequilibrium C) Long-run equilibrium D) Equilibrium E) none of the above
Economics