The consumption function shows
a. how fast the economy is consuming its capital.
b. that the amount of national income determines the rate at which the economy consumes its resources.
c. that households’ incomes determine how much the households will spend for consumer goods.
d. the rate at which people actually use up their consumer goods.
c. that households’ incomes determine how much the households will spend for consumer goods.
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It has been noted that a country that grants a considerable amount of economic freedom will experience
A) positive rates of per capita income growth. B) low levels of political freedom. C) dead capital. D) negative rates of per capita income growth.
Which of the following accounts for the highest percentage of health care dollar spending in the United States?
a. prescription drugs b. physician services c. program administration and net cost d. hospital care
Which of the following statements about economic resources is true?
A) Economic resources include financial capital and money. B) Economic resources are also called factors of production. C) Economic resources are used only by businesses. D) All economic resources are man-made.
Which of the following is an example of a free rider?
A. Listening to NPR without donating at their annual fundraiser. B. Sitting inside of the gate with a ticket to watch an outdoor concert. C. Walking through a public park. D. Completing work for a group project.