Taxation allows the government to redistribute income from higher income earners to those with lower incomes
Indicate whether the statement is true or false
true
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The change in consumption divided by a change in income is called the:
a. consumption function. b. marginal propensity to consume. c. marginal propensity to spend. d. spending function. e. changing propensity to consume.
Which of the following topics is not a part of a typical scenario plan?
a. Informatics. b. Cash flows. c. Automation, miniaturization, robotics, and research. d. All the above are a part of a typical scenario plan. e. Aging populations.
Describe how the substitution effect and the income effect influence decisions
What will be an ideal response?
A key assumption of most economic analysis is that people are altruistic, meaning that they act in their own self-interest.
Answer the following statement true (T) or false (F)