People expect their incomes will decrease next year. As a result, the ________ will shift ________
A) short-run aggregate supply curve; rightward
B) aggregate demand curve; rightward
C) aggregate demand curve; leftward
D) long-run aggregate supply curve; rightward
C
Economics
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Rational expectations are based on the past alone, while adaptive expectations are based on the past, the present, and the future
Indicate whether the statement is true or false
Economics
The Lorenz curve:
A. is an absolute measure of income inequality. B. is a relative measure of income inequality. C. has elements of absolute and relative measures. D. takes into account changes in the standard of living.
Economics