In traditional economies, people base economic decisions on the precedents established by previous generations

Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from

A) point c to point a. B) point d to point a. C) point d to point b. D) point b to point c.

A good proxy for the flow of consumption services would be

A) aggregate consumption. B) consumption of services and consumption of durables. C) consumption of durables and consumption of nondurables. D) consumption of nondurables and consumption of services.