Time-series studies of consumption reveal that
A) the long-term saving ratio is rising.
B) the long-term saving ratio is falling.
C) the long-term saving ratio is constant but the marginal propensity to consume is falling.
D) both the long-term marginal propensity to save and the long-term saving ratio are constant.
D
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Economic models are often expressed in
A. equations. B. words. C. graphs. D. physical objects.
Which of the following is NOT an example of technological progress?
A) the invention of the microwave oven B) an increase in the labor supply as the result of population growth C) the development of laser eye surgery D) the development of smart phones
The Clayton Act:
a. was passed in 1890. b. created the Federal Trade Commission. c. abolished antitrust policy in this country. d. attempted to give explicit content to what formed an antitrust violation. e. made mergers between corporations illegal.
Velocity is calculated as nominal GDP/money stock
a. True b. False Indicate whether the statement is true or false