Which of the following variables do not change autonomous consumption?
a. Demographics
b. Taxation
c. Expectation
d. Wealth
e. Disposable income
e
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By current U.S. law, anyone generating, storing, or transporting hazardous waste must pay to clean it up if it leaks or is otherwise discharged into the environment. This law has been in effect
a. since World War II b. since 1960 c. since 1970 d. since 1980 e. only since 1990
In the United States, the working-age population refers to the:
A. civilian, noninstitutional population aged 16 and over. B. population of those aged 16 and over. C. civilian, noninstitutional population of those between age 16 and age 64. D. noninstitutional population of those between ages 16 and 64.
A horizontal demand curve is perfectly elastic because a change in price will induce an infinite change in quantity demanded
a. True b. False Indicate whether the statement is true or false
You have been asked by your economics professor to graph the market for lumber and then to analyze the change that would occur in equilibrium price as a result of recent forest fires in the west. Your first step would be to
a. decide which direction to shift the curve. b. decide whether the fires affected demand or supply. c. graph the shift to see the effect on equilibrium. d. None of the above is correct.