Economists refer to the series of induced increases in consumption spending that result from an initial increase in autonomous expenditures as the ________ effect

The opportunity cost of a good increases as more of it is produced because

A) producing more of a good requires additional resources. B) the number of forgone alternatives also increases. C) resources are not equally productive in all activities. D) people want the good less as more is produced. E) there is no such thing as a free lunch.

In the late 1970s and early 1980s, the velocity of money increased significantly. The main reason(s) for the increase was:

A. the introduction of stock and bond mutual funds with draft writing privileges and low nominal interest rates. B. high nominal interest rates. C. the introduction of stock and bond mutual funds with draft writing privileges along with high nominal interest rates. D. as presidential election years near the velocity of money increases.