Economics is the study of the efficient use of scarce resources to achieve maximum satisfaction of economic wants.
Answer the following statement true (T) or false (F)
True
Economics
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Government spending and taxes
A) do not change aggregate demand. B) are an important component of aggregate supply. C) do not play a big role in determining GDP. D) are a major determinant of aggregate demand.
Economics
An increase in demand could be caused by
a. a decrease in price b. a decrease in income, assuming the good is inferior. c. buyers expecting the price of the good to fall in the near future. d. an increase in the price of a complement.
Economics