Which of the following will cause consumption, and as a result, aggregate demand, to shift to the right?
a. an optimistic business forecast of future income growth
b. increased consumer wealth
c. an increase in consumer confidence
d. all of the above
d
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Which of the following statements is false?
A) Anytime you have to decide which action to take you are facing an economic trade-off. B) Every individual, no matter how rich or poor, is faced with making trade-offs. C) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale. D) Economics is a social science that studies the trade-offs we are forced to make because of scarcity.
Assume that data are available on other characteristics of the subjects that are relevant to determining the experimental outcome. Then including these determinants explicitly results in
A) the limited dependent variable model. B) the differences in means test. C) the multiple regression model. D) large scale equilibrium effects.