Political instability is an obstacle to development in:
A. both market and socialist economies.
B. neither market nor socialist economies.
C. market economies.
D. socialist economies.
Answer: A
Economics
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Suppose that C = Ca + 0.6y and a shock decreases Ca by $50 billion. Assuming there is no government involvement, by how much will equilibrium GDP decrease?
What will be an ideal response?
Economics
Which statement is consistent with what Keynes believed about consumption and disposable income?
A) Consumption depends upon disposable income and falls as disposable income rises. B) Consumption rises by the same amount as disposable income rises. C) Consumption rises by less than disposable income rises. D) Disposable income depends upon consumption.
Economics