3. Consider the aggregate expenditure equation AE = 2,000 - 1,000+ 0.7 Y, where the letters represent the usual economic variables. Which of the following is correct? 1. (2,000 - 1,000r) constitute the autonomous components of aggregate expenditure. 2. The sign of the coefficient on the interest rate ris wrong, because aggregate expenditure rises with the interest rate. 3. The equation indicates that a change in the interest rate r shifts the aggregate expenditure line in the Keynesian Cross diagram.

Something that is perceived as a luxury rather than a need is something that brings pleasure. Worldwide, the majority of people view food, shelter, and water as requirements. Undoubtedly, indoor plumbing and electricity would be included on the list by many Americans. As opposed to being a luxury, internet connection is increasingly considered as a need. But is it actually essential for surviving? What then happens to those who don't utilize or have access to the internet? Could the expansion of e-commerce be impacted by how people view Internet connection as a need or a luxury?

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