According to the interest rate effect, as the price level:
a. rises, people feel poorer and buy less.
b. rises, United States products become more expensive and foreigners buy less U.S. goods.
c. rises, interest rates fall, and people buy less.
d. rises, interest rates rise, and people buy less.
e. falls, interest rates fall, and people buy less.
d
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The law of supply reflects the fact that
A) people buy more of a good when its price falls. B) suppliers have an incentive to use their resources in the way that brings the biggest return. C) the demand curve is downward sloping. D) higher prices are more attractive to consumers because they signal a higher quality product. E) businesses can sell more goods at lower prices.
Opinion polls reveal that many Americans begrudge millionaires their wealth
Indicate whether the statement is true or false