Which of the following shocks is most likely to cause an expansion?
a. An upward spike in oil prices.
b. An increase in autonomous consumption spending.
c. A significant decline in business equipment spending.
d. A sudden increase in the interest rate.
e. A significant decline in exports.
B
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Income per capita is ________
A) gross domestic product divided by total labor force B) gross domestic product divided by total population C) gross domestic product divided by total amount of capital used D) gross domestic product divided by total unit of all goods produced
What is a primary difference between rebates and coupons?
A) Coupons allow individuals to sort themselves into the high-elasticity group after the sale. B) Neither coupons nor rebates are redeemed in high numbers. C) Rebates allow individuals to sort themselves into the high-elasticity group after the sale. D) Coupons are legal and rebates are illegal.