The consumption schedule shows:
A. that the MPC increases in proportion to GDP.
B. that households consume more when interest rates are low.
C. that consumption depends primarily on the level of business investment.
D. the amounts households intend to consume at various possible levels of aggregate
income.
D. the amounts households intend to consume at various possible levels of aggregate
income.
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Refer to the figure above. A one unit increase in labor supply will lead to ________ in output in Country X than in Country Y
A) a smaller increase B) a smaller decrease C) a larger decrease D) a larger increase
When a surplus of rice occurs,
A) the price of rice rises. B) the price of rice falls. C) there is a balance between the forces of supply and demand. D) the quantity demanded is greater than quantity supplied at the current price. E) the demand curve shifts rightward and the supply curve shifts leftward to eliminate the surplus.