Which of the following statements is TRUE?
A) investment = disposable income + consumption
B) saving = personal income - consumption
C) saving = disposable income - consumption
D) saving = personal income + consumption
C
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The labor demand curve of a firm
A. is the same as its marginal product curve. B. reflects a direct relationship between the number of workers hired and the money wage rate. C. is perfectly elastic if the firm is selling its product in a purely competitive market. D. will shift to the left if the price of the product the labor is producing falls.
This Application illustrates how a change in weather conditions can adversely impact the ________ by ________ the price of a good
A) demand; decreasing B) supply; decreasing C) demand; increasing D) supply; increasing
Keynes believed that economies experiencing high unemployment should adopt policies to
a. reduce the money supply. b. reduce government expenditures. c. increase aggregate demand. d. increase aggregate supply.
The first antitrust legislation was the:
A. Sherman Act. B. Clayton Act. C. Federal Trade Commission Act. D. Robinson-Patman Act.