A downward shift in the consumption function can be caused by:
a. expectations of higher inflation.
b. an increase in wealth.
c. a lower price level.
d. none of these.
a
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A free rider is a person who ________
A) can produce a good at a very low cost B) only consumes products provided by the government C) receives the benefit of a good without paying for it D) purchases products available for discounts
In Zimbabwe and Botswana, elephants can be owned by local tribes and trade in ivory is legal, while in countries such as Kenya, it is illegal to trade in ivory and elephants cannot be privately owned but are protected by the government. Which of the following is true regarding the change in the elephant populations since 1979 in these countries?
a. In Zimbabwe and Botswana, elephants are near the verge of extinction, while in Kenya, the population of elephants is growing rapidly. b. There has been a similar decline in the population of elephants in all of these countries. c. There has been a similar increase in the population of elephants in all of these countries. d. In Zimbabwe and Botswana, elephant populations have more than doubled, while in Kenya, the population of elephants has fallen to less than one-third of its previous level.
The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates
a. True b. False Indicate whether the statement is true or false
Price floor
What will be an ideal response?