Which of the following statements is false?
A. When income levels are very low, C is higher than income.
B. When income is equal to consumption, saving is zero.
C. Induced consumption expenditures represent consumption that is independent of income.
D. The average propensity to save is positive at very high levels of income.
C. Induced consumption expenditures represent consumption that is independent of income.
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Variable costs increase when output rises.
Answer the following statement true (T) or false (F)
The concept of marginal productivity is applicable to
a. all of the following b. capital c. entrepreneurial talent d. land e. labor
As per capita GDP has risen over time in the United States and other countries, the
What will be an ideal response?
What is meant by the term "government-imposed barrier to entry"? Why would a government be willing to impose barriers to entering an industry?
What will be an ideal response?