The aggregate expenditure curve tells how much market participants desire to spend at different income levels.
Answer the following statement true (T) or false (F)
True
The aggregate expenditure curve reflects total spending by consumers, businesses, governments, and foreigners.
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If income increases we know for sure that the:
a. demand curve will shift to the right b. demand curve will shift to the left c. demand curve will stay the same since only price affects it d. supply curve will shift to the right e. none of the above
The social costs of an activity are greater than the private costs of the activity when
A) a person does not pay all costs associated with a particular resource-using activity. B) the internal costs of the resource-using activity are less than the external costs of the activity. C) the internal costs of the resource-using activity are positive. D) the external costs of the resource-using activity are zero.