Autonomous consumption is
A) the change in consumption that results as a person's (or nation's) income increases or decreases.
B) that portion of total consumption that is dependent upon the level of income.
C) the steady increase in the consumption of goods and services that automatically occurs as a person grows from a child to an adult.
D) that portion of total consumption that is independent of the level of income.
D
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Refer to Figure 5-13. The actual price of gasoline paid by consumers after the tax is implemented is ________ per gallon
A) $3.00 B) $3.75 C) $4.25 D) $5.00
An increase in the demand for automobiles will increase the demand for labor used to produce the automobiles due to
a. an increase in the marginal revenue product of labor. b. a decrease in the marginal revenue product of labor. c. an increase in the marginal revenue product of automobiles. d. a decrease in the marginal revenue product of automobiles. e. a decrease in the price of automobiles.
Which of the following is not part of the "state health insurance marketplaces" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Each state is required to establish an Affordable Insurance Exchange. B) Small businesses with fewer than 50 employees are exempt from being required to participate in the program. C) Low-income individuals are eligible for tax credits to offset the costs of buying health insurance. D) None of the above are a part of the "state health insurance marketplaces" provision.
Deflation causes the demand for bonds to ________, the supply of bonds to ________, and bond prices to ________, everything else held constant
A) increase; increase; increase B) increase; decrease; increase C) decrease; increase; increase D) decrease; decrease; increase