The _____ effect states that a lower price level reduces the amount of money people wish to hold. When they lend out their excess savings, the _____ falls causing investment spending to rise and increases the quantity of goods and services demanded

Assume that society is operating on its concave production possibilities frontier. As more and more units of the good on the horizontal axis are produced,

a. more and more total resources are employed in the two industries combined b. larger and larger amounts of the good on the vertical axis must be sacrificed c. fewer and fewer total resources are employed in the two industries combined d. more and more units of the good on the vertical axis will be produced e. smaller and smaller amounts of the good on the vertical axis must be sacrificed

When a person's income rises and the tax rate is constant, the tax is a

a. regressive tax b. poll tax c. progressive tax d. head tax e. proportional tax