If U.S. consumers become more optimistic about their future income and wealth, the consumption function will shift upward

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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The CPI was 170 last year and is 190 this year. What is the inflation rate between these two years?

A) 20 percent B) 11.8 percent C) 18 percent D) 15.0 percent E) 10.5 percent

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The takings clause states that the government can seize private property only if ________ is provided

A) comparably-valued property B) just compensation C) fair market value D) the seller's asking price

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The income-consumption curve for Dana between Qa and Qb is given as: Qa = Qb. His budget constraint is given as: 120 = Qa + 4Qb How much Qa will Dana consume to maximize utility?

A) 0 B) 24 C) 30 D) 60 E) More information is needed to answer this question.

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As real disposable income decreases, consumption expenditures

A. decrease by a smaller amount than income. B. increase by a larger amount than income. C. remain constant. D. decrease by the same amount as income.

Economics