Autonomous consumption is the level of consumption that is
A. observed at the poverty line.
B. available to someone earning the minimum wage.
C. independent of real income.
D. consistent with the average standard of living.
Answer: C
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An action at which it is possible to marginally increase or decrease an activity level is called:
A. an interior action. B. a boundary action. C. a marginal improvement action. D. a marginal action.
"Money is a veil" best describes the
a. new-Keynesian view. b. Keynesian view. c. classical view. d. economy in the short run but not the long run.
Which of the following statements correctly highlights the difference between microeconomics and macroeconomics?
A) Microeconomics is descriptive, whereas macroeconomics is advisory. B) Microeconomics primarily deals with positive analysis, whereas macroeconomics primarily deals with normative analysis. C) Microeconomics deals with a small part of the economy, whereas macroeconomics deals with aggregate economic performance. D) Microeconomics describes what economic agents actually do, whereas macroeconomics describes what economic agents ought to do.
Suppose a firm receives $975 for a discount bond with a face value of $1000 to be repaid in one year. What is the amount of interest on the bond? What is the interest rate on the bond? Report a percentage with two decimal places
What will be an ideal response?