Moving along a given budget line
A) prices and real income both decrease.
B) prices fall and real income is constant.
C) real income decreases and prices are constant.
D) prices and real income are constant.
D
Economics
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Moving along a short-run Phillips curve, a reduction in the unemployment rate is achieved by
A) reducing the size of the labor force. B) shifting the aggregate supply curve leftward. C) increasing potential GDP. D) running a federal budget deficit. E) increasing the inflation rate.
Economics
The ratio of a change in consumption to a change in income is the:
a. consumption function. b. propensity to consume. c. average propensity to consume. d. extra propensity to consume. e. marginal propensity to consume.
Economics