When we discuss the consumption function, we are saying that consumption is a function of or a variable of ______________.
Fill in the blank(s) with the appropriate word(s).
disposable income
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The filing status of an unmarried single parent living with another person is likely to be
A. married filing jointly. B. single head of household. C. single. D. married filing separately.
Which of the following is associated with peaks in the business cycle? a. Relatively high levels of unemployment. b. Recessions
c. Relatively low levels of unemployment. d. Both answers a. and b. above are correct.
A deposit in a commercial bank is a liability for the customer who makes that deposit
a. True b. False Indicate whether the statement is true or false
Opponents of the minimum wage law implicitly assume that the ________ if they worry about the unemployment effects of the policy.
A. demand curve for unskilled workers is inelastic B. supply curve for unskilled workers is inelastic C. supply curve for unskilled workers is highly elastic D. demand curve for unskilled workers is highly elastic