Suppose Households Become More Future-Oriented and Decide to Save More

question 139

Multiple Choice

Suppose households become more future-oriented and decide to save more at each income level. All other things unchanged, this will

• A) shift the aggregate demand curve to the right.
• B) shift the aggregate demand curve to the left.
• C) not affect aggregate but rather aggregate supply because firms will now produce less.
• D) shift both the aggregate demand curve and the aggregate supply curve to the left.

Identify and explain acts constituting battery and assault including self-defense.

Recognize the characteristics of negligent, strict-liability, and intentional torts.

Understand the principles of assumption of risk and defenses in tort law.

Differentiate between intentional and negligent torts.

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Definitions:

Long-run Equilibrium

A state in market-based economies where all factors of production are fully utilized, leading to no further economic incentive for reallocation.

Minimized Average Total Cost

The point at which a firm achieves the lowest possible cost per unit of production by optimizing the scale of production.

Price

The amount of money required to purchase a good or service, often determined by supply and demand dynamics.

Long-run Equilibrium

A situation in competitive markets where all firms have adjusted to a state where there is no incentive to enter or exit the market, and economic profits are zero.