Where the income line intersects the consumption curve, saving
a. equals consumption
b. equals income
c. is less than zero
d. is equal to zero
e. is greater than zero
D
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The word oligopoly means
A) elastic demand. B) few sellers. C) independent action. D) interdependent selling. E) predatory pricing.
If the production of a good creates an external cost, is the supply curve the same as the marginal social cost or the same as the marginal private cost curve or both?
What will be an ideal response?
Market prices contain
A) some information. B) all information. C) only past information. D) a bias for old stocks.
Which of the following will most likely result from an unexpected increase in prices that decreases real wages and resource prices?
a. a decrease in unemployment b. an increase in unemployment c. a decrease in the nominal interest rate d. a decrease in aggregate supply and real output