Intertemporal substitution dictates that
a. people will work less in periods of high productivity.
b. people will spend more in periods of high productivity.
c. people will work more in periods of high productivity.
d. people will spend less in periods of high productivity.
c. people will work more in periods of high productivity.
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In the circular flow model, which of the following items is a real flow?
A. The flow of government expenditures to firms for the goods bought B. The flow of income from firms to households for the services of the factors of production hired C. The flow of U.S. borrowing from the rest of the world D. The flow of labor services from households to firms
The Dodd-Frank Act removed which group from decisions regarding the presidents of Federal Reserve Banks?
A) Class A directors B) Class B directors C) Class C directors D) Board of Governors