Here is a consumption function: C = C0 + MPC(Yd). The C0 term is usually defined as
A) autonomous consumption.
B) point-zero consumption.
C) mandatory consumption.
D) propensitory consumption.
E) none of the above
A
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Which of the following statements is true?
A) Arithmetic or geometric growth rates gives similar answers for long periods. B) Using either arithmetic or geometric average to compute average growth rates gives similar answers for short periods. C) Geometric average of growth rate ignores the exponential nature of growth. D) Arithmetic calculation of growth rate considers the exponential nature of growth.
Refer to Figure 21.1. The highest 20% of the population earn ________ of total income
A) 40% B) 44% C) 60% D) 80%
A bill of exchange necessitated the use of coin and bullion and thus restricted the growth of commercial trade
Indicate whether the statement is true or false
According to Danziger and Gottschalk, the two most frequent ways low earners escape poverty is working a second job, and help from relatives
Indicate whether the statement is true or false