Which of the following determinants of the level of consumption is associated with Thorstein Veblen?
A. Credit availability
B. The level of disposable income
C. The stock of liquid assets in the hands of consumers
D. Keeping up with the Joneses
D. Keeping up with the Joneses
You might also like to view...
Explain how the currency drain ratio affects the size of the money multiplier. In your explanation, suppose that in one round of the money creation process a bank gains $1 million in new deposits and reserves
Further suppose that the desired reserve ratio is 10 percent and the currency drain ratio is 50 percent.
If the opportunity cost of producing corn is lower for Ohio than for Iowa, then:
A. Iowa should specialize in corn production. B. Iowa has the comparative advantage in corn production. C. Iowa should export corn to Ohio. D. Ohio has the comparative advantage in corn production.
Select the positive statement that completes the sentence: If wages rise more rapidly than productivity:
a. profits will fall. b. workers will earn 3/4 of GDP. c. the rate of inflation increases. d. all of these.
A formula for determining how much a bank can extend loans through the creation of check able deposits is
a. excess reserves/the reserve requirement. b. excess reserves ? the reserve requirement. c. excess reserves + the reserve requirement. d. reserve requirement/excess reserves.