That part of disposable income not spent on consumption is defined as:
a. transitory disposable income.
b. permanent disposable income.
c. disposable income.
d. autonomous consumption.
e. saving.
e
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________ economics prescribes what an individual or society ought to do
A) Normative B) Behavioral C) Positive D) Negative
What are the factors that affect GDP according to the aggregate production function used by Solow?
What will be an ideal response?
The condition, MRSC,C' = 1 + r, describes the representative consumer's
A) investment decision. B) consumption - savings decision. C) current period work - leisure decision. D) future period work - leisure decision.
Currency and checkable deposits are
A. the major components of money supply M1. B. assets of the Federal Reserve Banks or of financial institutions. C. of intrinsic value that determines the relative worth of money. D. redeemable for gold and silver from the Federal Reserve System.