An increase in the price of pork will lead to
A) a movement up along the demand curve.
B) a movement down along the demand curve.
C) a rightward shift of the demand curve.
D) a leftward shift of the demand curve.
A
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In the second circular-flow model of Chapter 2, households have two uses for their total income:
A) consumption and investment. B) consumption and saving. C) saving and investment. D) saving and payment of taxes. E) consumption and payment of taxes.
Use the IS-LM model to answer this question. Suppose there is a simultaneous increase in taxes and reduction in the money supply. Explain what effect this particular policy mix will have on output and the interest rate. Based on your analysis, do we know with certainty what effect this policy mix will have on investment? Explain
What will be an ideal response?