The entrance of the U.S. into the Korean War in June of 1950 led to:
a. deflation.
b. an increase in the unemployment rate.
c. a long and deep recession.
d. a surge in consumer demand.
e. All of the above.
d. a surge in consumer demand.
Economics
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If income and the prices of both goods all double, the budget line will
a. become flatter b. become steeper c. remain unchanged d. experience a parallel outward shift e. experience a parallel inward shift
Economics
Using the standard 45-degree line diagram, how does an increase in autonomous consumption effect the expenditure schedule?
a. It shifts the expenditure schedule downward. b. It shifts the expenditure schedule upward. c. It increases the slope of the expenditure schedule. d. It decreases the slope of the expenditure schedule.
Economics