The part of consumption that does NOT depend upon the level of disposable income is
A. autonomous consumption.
B. savings.
C. saving.
D. average propensity to consume.
Answer: A
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If the demand for a good is increasing while the supply curve remains unchanged, then we will observe
A) more purchases at a higher price. B) more purchases at a lower price. C) fewer purchases at a higher price. D) fewer purchases at a lower price.
Ben’s Peanut Shoppe suffers a short-run loss. Ben will not choose to shut down if his business’ total revenue exceeds his:
a) capital costs. b) implicit costs. c) variable cost. d) fixed cost.
If the United States CPI was 37 in 1973 and in 2016 it was 215.3. By what percent did prices increase in the United States between 1973 and 2016? (Not the annual rate of change, but total.)
A. 5 B. 482 C. 545 D. 48
During 2016, Yolanda's assets equal $400,000 and her liabilities were $550,000. Yolanda's net worth is
A. -$150,000. B. $150,000. C. $475,000. D. $950,000.