A decrease in wealth ________ consumption expenditure and ________
A) increases; shifts the consumption function upward
B) increases; shifts the consumption function downward
C) decreases; results in a movement downward along the consumption function
D) decreases; shifts the consumption function downward
E) decreases; shifts the consumption function upward
D
You might also like to view...
Individuals: a. respond to incentives in predictable ways
b. decrease the level of an activity in response to negative incentives. c. respond to positive incentives by increasing the level of activity. d. do all of the above.
Mr. Frank, a foreman supervisor some 43 employees, was asked by his secretary to sign a form requesting additional supplies needed on the factory floor. He was not careless when he examined the form, but his secretary had cleverly arranged the signature line so that instead of signing a request form for supplies he signed a cheque payable to his secretary. What plea, if any, would be used to defend against her action on the cheque?
a. Mistake b. Illegality of object c. Rescission d. Non est factum e. Rectification
Refer to the graphs shown. The market is caviar. Which graph best represents the impact of an increase in consumer incomes on the market for caviar?
A. Graph a B. Graph b C. Graph c D. Graph d
What are four characteristics of pure competition?
What will be an ideal response?