When the price of a good falls, consumers buy a larger quantity because of the ________ effect and the ________ effect

Explain the business cycle by describing the phases and turning points

What will be an ideal response?

In equilibrium, rate of growth of capital in a simple closed economy (i.e., x = 0 ) is determined primarily by

A) the growth rate of savings. B) the level of saving less expenditures for replacement capital. C) per capita well-being. D) the growth rate of replacement capital.