The consumption schedule shows the relationship of household consumption to the level of:
a. The marginal propensity to consume
b. Disposable income
c. Investment
d. Saving
b. Disposable income
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Which of the following is the best example of a monopolistically competitive industry?
A) land-based long distance telephone service B) wheat farming C) the local electricity producer D) manufacturing of shirts E) cable television
An index, based on a telephone survey of 500 households conducted by the University of Michigan, that measures households' attitudes regarding expected business conditions, personal financial conditions, an consumer confidence about purchasing
furniture and major household appliances is called the: A) Consumer Sentiment Index. B) Consumer Confidence Index. C) Consumer Satisfaction Index. D) Consumer Consumption Index.
Refer to Scenario 7.1. For 100 cookies, the average total cost is
A) falling. B) rising. C) neither rising nor falling. D) less than average fixed cost.
The price of bonds and the interest rate are
A) inversely related. B) positively related. C) unrelated. D) related, but we are not sure how.