Which of the following would be most likely to induce Congress and the president to conduct expansionary fiscal policy? A significant
A) decrease in investment spending.
B) decrease in oil prices.
C) increase in consumption spending.
D) increase in net exports.
Answer: A
Economics
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What is a basic principle of the law of demand?
a. The higher the price, the more people will want the good. b. Everyone has a limited income that they will spend. c. When a good's price is lower, people will buy more of it. d. Services are of interest in the same way that goods are.
Economics
In the above figure, a price of $1.25 and a quantity of 5 million gallons of milk per day maximizes the
A) amount of consumer surplus. B) amount of producer surplus. C) sum of consumer surplus and producer surplus. D) All of the above answers are correct.
Economics