As real disposable income decreases, consumption expenditures
A. decrease by a smaller amount than income.
B. increase by a larger amount than income.
C. remain constant.
D. decrease by the same amount as income.
Answer: A
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According to the graph shown, if the economy were operating in autarky and then moved to free trade, the overall impact on surplus would be a net:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. gain of FGIJKL.
B. loss of FGIJKL.
C. gain of FGJK.
D. loss of FGJK.
The amount of money that someone would pay today for the right to receive a future payment is called
a. the present value of the future payment b. the determinate value of the future payment c. the interest rate d. the principal e. the time discount
Which of the following is a monetary policy action?
A. Deregulation. B. Changes in transfer payments. C. Open market operations. D. Changes in government spending.
A util is a single unit of:
A) the measure of income. B) the measure of savings. C) the measure of satisfaction. D) the measure of expenditure.