A consumer chooses an optimal consumption point where the
a. marginal rate of substitution is maximized.
b. rate at which the consumer is willing to trade one good for another equals the price ratio.
c. price ratio is minimized.
d. All of the above are correct.
b
Economics
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Inflation can be caused: a. only by increases in aggregate demand
b. only by increases in aggregate supply. c. only by decreases in aggregate supply. d. by increases in aggregate supply or decreases in aggregate demand. e. by increases in aggregate demand or decreases in aggregate supply.
Economics
Every time the Fed buys or sells on the open market, the __________ changes
A) budget deficit B) income tax rate C) money supply D) a and b E) a, b, and c
Economics