For a country such as the U.S., the wealth effect exerts a very important influence on the slope of the aggregate-demand curve, since U.S. wealth is large relative to wealth in most other countries
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Countries that have lower levels of real GDP per person than the United States
a. tend to have growth rates that are higher than that of the United States. b. tend to have growth rates that are about the same as that of the United States. c. tend to have growth rates that are lower than that of the United States. d. in some cases have growth rates that are higher than that of the United States and in other cases lower than that of the United States.
A buyer is said to have a demand for a good only when
A. The buyer is not willing to buy the good and does not have enough income to purchase the good. B. The buyer has the income but the good is not preferred. C. The buyer is both willing and able to purchase the good. D. An adequate supply of the good is available for purchase.