As price levels change, the purchasing power of income and wealth has varying effects on the level of consumption spending in an economy. This is called the _____
a. interest rate effect
b. exchange rate effect
c. wealth effect
d. accelerator effect
c
Economics
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The increase in the demand for widgets, shown in the figure above, is the result of an increase in the price of McBoover devices. Therefore
A) widgets and McBoover devices are substitutes. B) widgets and McBoover devices are complements. C) widgets are a normal good. D) McBoover devices are a normal good.
Economics
Collective bargaining involves negotiations over
A. pay. B. working conditions. C. fringe benefits. D. All of these choices are correct.
Economics