Whether an externality is positive or negative, it is always
A) evaluated by the Supreme Court of the United States.
B) evaluated by the government.
C) evaluated by the impact on the third party.
D) judged by the profitability of the firm producing the product.
C
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An increase in expected future disposable income ________ consumption expenditure and ________
A) increases; shifts the consumption function downward B) increases; shifts the consumption function upward C) decreases; shifts the consumption function upward D) increases; results in a movement upward along the consumption function E) decreases; shifts the consumption function downward
In the short run, an increase in government expenditure on goods and services ________ real GDP and ________ the price level
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls