If disposable income decreases during a recession, there is
A) no change in consumption expenditures.
B) movement upward along the consumption function.
C) movement downward along the consumption function.
D) an upward shift in the consumption function.
E) a downward shift in the consumption function.
C
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The value you give today to money you will receive in the future is called the future payment's
A) present value. B) future value. C) historical value. D) time-sensitive value.
According to the search model, the marginal cost of acquiring information about a product
a. is greater for a doctor than a nurse's aide b. is the same for high-income consumers as for low-income consumers c. is greater for expensive items than for cheap items d. is greater for cheap items than for expensive items e. diminishes as more information is acquired
Explain who gains and who loses from an import quota and why the losses exceed the gains
What will be an ideal response?
How many cars will this country import in an open economy situation?
A. 40,000 B. 20,000 C. 60,000 D. 80,000