单选题
Patch Grove Analytics is evaluating candidates for an economic analyst
internship. To demonstrate his grasp of the effects of consumer behavior on
aggregate demand, a candidate makes the following statements during his
interview:
Statement 1: The wealth effect occurs when consumers
feel wealthier at higher price levels because their wages will also increase,
and spend more in the current period as a result.
Statement 2:
Intertemporal substitution accounts for consumers' tendency to increase their
planned purchases in the current period and decrease planned future purchases
when interest rates increase.
Are these two statements
correct?
Statement 1
Statement 2
①A. Incorrect
Incorrect
②B. Incorrect
Correct
③C.
Correct Incorrect
【正确答案】
A
【答案解析】Both statements are incorrect. The wealth effect causes real consumption spending to decrease at higher price levels because consumers have less wealth in real terms, and consequently spend less. When interest rates increase, consumers spend less in the current period as they delay purchases until future periods. They substitute purchases later for purchases now (intertemporal substitution).