Starting from Long-Run Equilibrium, an Increase in Autonomous Consumption Results

question 146

Multiple Choice

Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.

• A)higher; higher
• B)higher; potential
• C)lower; potential
• D)lower; higher

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Definitions:

Locke

Refers to John Locke, a 17th-century English philosopher who proposed the theory of Tabula Rasa, suggesting that individuals are born without built-in mental content and that all knowledge comes from experience and perception.

Descartes

René Descartes was a French philosopher, mathematician, and scientist who is considered one of the key figures in the development of modern philosophy.

Galen

An ancient Greek physician and philosopher whose work in the field of medicine influenced the development of various medical theories for centuries.

Conformity

The process of aligning one's behaviors, beliefs, and attitudes with the norms or standards of a society or group.