Which of the following theories predicts that current consumption increases when a person recieve a higher income or expects an increase in future income?
A. the Keynesian theory of consumption
B. the permanent income hypothesis
C. the life-cycle theory of consumption
D. all of these
Answer: D
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Access the document prepared by the U.S. Census Bureau, Pollution Abatement Costs and Expenditures: 2005, available online at www.census.gov/prod/2008pubs/ma200-05.pdf.Examine the state-level data for total capital and operating abatement costs. Analyze the differences amongany subset of states, and offer a hypothesis as to why these differences might exist.
What will be an ideal response?
Based on the information in Scenario 1, nominal GDP in 2016 in this economy was
A) $830. B) $1,025. C) $1,090. D) $1,345.
It is possible for the U.S. to gain from trade with Germany even if it takes U.S. workers fewer hours to produce every good than it takes German workers
a. True b. False Indicate whether the statement is true or false
If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for apple sauce from 100 to 140 jars, what is the cross-price elasticity of apple sauce and pork chops at a pork chop price of $6?
A. -1.17 B. 2.71 C. 0.42 D. -0.86