When economists say the supply of a product has increased, they mean the
a. supply curve has shifted to the right.
b. price of the product has risen, and consequently, suppliers are producing more of it.
c. supply curve has shifted to the left.
d. amount of the product that consumers are willing to purchase at various prices has increased.
A
Economics
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The income left in the economy after paying for all consumption spending by households and government spending is called national saving
a. True b. False Indicate whether the statement is true or false
Economics
Refer to the information provided in Figure 24.5 below to answer the question(s) that follow.
Figure 24.5Refer to Figure 24.5. The MPC equals ________ and the MPS equals ________.
A. 0.9; 0.1 B. 0.8; 0.2 C. 0.5; 0.5 D. 0.75; 0.25
Economics