Table 9.1 Disposable IncomeTotal Consumption(Billions of dollars per year)(Billions of dollars per year)$0$50200210What is the rate of saving when income equals $1,000 billion in Table 9.1?
A. $100 billion.
B. $250 billion.
C. $150 billion.
D. Zero.
Answer: C
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If the public switches from using cash for most transactions to using checks instead, then all else equal, the money supply will:
A. not change. B. decrease. C. either increase or decrease. D. increase.
Because of unseasonably cold weather, orange crops were destroyed in Florida. This statement indicates that
A. the demand for apple juice will decrease. B. the amount of orange juice will decrease. C. demand for oranges will necessarily rise. D. equilibrium quantity of oranges will rise.
The typical age-earnings cycle shows that
A) there is a positive relationship between age and earnings that eventually turns into a negative relationship. B) there is a constant positive relationship between age and earnings. C) there is a constant negative relationship between age and earnings. D) there is no relationship between age and earnings.
Open-market operations are easy for the Federal Reserve to conduct and are therefore the tool of monetary policy that the Federal Reserve uses most often.
Answer the following statement true (T) or false (F)