In this graph, consumption is at the level of 2,500 when disposable income is
A. 0.
B. 1000.
C. 2000.
D. 3000.
B. 1000.
You might also like to view...
Briefly describe two systems for fixing the exchange rates of all currencies against each other and the time periods in which they were used
What will be an ideal response?
The only major disadvantage of paper money is that it is hard to divide into smaller denominations
a. True b. False Indicate whether the statement is true or false
A profit-maximizing competitive firm will hire workers up to the point at which the wage equals the price of the final good
a. True b. False Indicate whether the statement is true or false
The present discounted value of a future payment will decrease when the
A. Opportunity cost of money decreases. B. Interest rate increases. C. Future payment is closer to the present. D. Risk of nonpayment increases.