When real consumption expenditure is plotted against real disposable income the resulting relationship is
a. very weak.
b. positive and very curvi-linear.
c. positive and very close to linear.
d. negative and very close to linear.
e. virtually flat.
C
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In the above figure, the break-even output and price is
A) $9 and 14. B) $13 and 14. C) $11 and 16. D) $10 and 17.
Which age category has the highest incidence of those without health insurance?
a. 45-64 years of age b. 19-34 years of age c. Under 19 years of age d. Over 65 years of age e. 35-44 years of age
If the absolute price elasticity of demand is equal to 1 in the short run, then in the long run, other things being equal, the absolute price elasticity of demand will be
A. equal to zero. B. greater than one. C. less than one. D. less than zero.
Refer to the tables. If South Cantina is producing at production alternative D, the opportunity cost of the third unit of capital goods will be:
Answer the question on the basis of the following production possibilities tables for two
countries, North Cantina and South Cantina:
A. 3 units of consumer goods.
B. 4 units of consumer goods.
C. 5 units of consumer goods.
D. 6 units of consumer goods.