If the consumption function shifts downward, which of the following is the most likely cause?
a. Consumers become more optimistic.
b. The price level increased.
c. Consumers' incomes increase.
d. Real interest rates decrease.
b
Economics
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The wealthy nations of the world have
a. the largest populations. b. more supplies of natural resources. c. more supplies of capital. d. larger labor forces.
Economics
The saying that "You cannot have your cake and eat it too" illustrates the economic concept of
A. a positive statement. B. physical capital. C. a normative statement. D. opportunity cost.
Economics