In the Keynesian cross diagram, a decline in autonomous consumer expenditure causes the aggregate demand function to shift down, the equilibrium level of aggregate output to ________, and the IS curve to shift to the ________,

Explain why having different marginal rates of substitution is necessary for trade to occur

What will be an ideal response?

Which of the following issues is most unlikely to be addressed by an economist practicing positive economics?

A) the relationship between the minimum wage and the number of unemployed unskilled workers B) the effect of a minimum wage increase on inner-city crime rates C) the desirability of a minimum wage increase D) the consequences of implementing a minimum wage law in China