In which of the following situations for a mixed open economy will the level of GDP expand?
A. When I g + X + G exceeds S a + M + T.
B. When S a + T + M exceeds I g + G + X.
C. When GDP exceeds C a + I g + G + X n .
D. When I g + M + T exceeds C a + X + S.
A. When I g + X + G exceeds S a + M + T.
Economics
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Gasoline is a normal good. If the price of gasoline falls, a consumer buys more gasoline because of
A) only an income effect. B) only a substitution effect. C) an increase in the marginal rate of substitution. D) both an income effect and a substitution effect.
Economics
As the price of a good rises, the consumer will experience
A) a desire to consume a different bundle. B) a decrease in utility. C) a downward or leftward movement on the indifference map. D) All of the above.
Economics