One of the effects of a change in disposable income could not be a(n)
a. movement up along the consumption function.
b. movement down along the consumption function.
c. change in the amount of consumption expenditures.
d. upward shift of the consumption function.
d
Economics
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Suppose hamburgers and hotdogs are substitute goods. Other things constant, a rise in the price of hotdogs would tend to
A) decrease the demand for hotdogs. B) decrease the demand for hamburgers. C) increase the demand for hotdogs. D) increase the demand for hamburgers. E) do any of the above, because nobody needs hotdogs or hamburgers.
Economics
Everything else held constant, when output is ________ the natural rate level, wages will begin to ________, decreasing short-run aggregate supply
A) above; fall B) above; rise C) below; fall D) below; rise
Economics