Which of the following explains why a $100 billion reduction in consumption spending might decrease equilibrium real GDP by more than $100 billion?
a. Say's law.
b. The quantity theory of money.
c. Flexible resource prices.
d. The multiplier principle.
d
Economics
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When we are forced to make choices we are facing the concept of:
A) ceteris paribus. B) free goods. C) scarcity. D) the margin.
Economics
Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. At a price of $10, the quantity demanded in the market would be
A) 2 lbs. B) 48 lbs. C) 50 lbs D) 52 lbs.
Economics