Author Question: The _____ is the change in the purchasing power of assets that causes spending to change when the ... (Read 81 times)

james0929 · **on:** Jun 30, 2018

The _____ is the change in the purchasing power of assets that causes spending to change when the price level changes.
a. purchasing power effect
b. interest rate effect
c. substitution effect
d. income effect
e. real-balance effect

Question 2

Adam Smith
a. is considered the founder of modern economics
b. wrote An Inquiry into the Nature and Causes of the Wealth of Nations
c. did not believe the wealth of nations came from an accumulation of gold and silver.
d. All of the above