How much is induced consumption when disposable income is $10 billion?
$8 billion
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The figure above shows Sam's budget line. The vertical intercept of Sam's budget line is equal to
A) the quantity of coffee purchased if zero gasoline is purchased. B) Pc/Y. C) the quantity of gasoline purchased if zero coffee is purchased. D) Pg/Y.
Adverse selection is
a. when people act differently because they are insured b. when more risk averse people want to be insured more c. when people at greater risk want to be insured more d. when your guess at a test question is wrong
Which of the following professionals is likely to receive higher compensatory wages?
a. Financial accountants b. Software engineers c. Sales workers d. Share traders e. Tailors
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent, your rate of economic profit is
a. zero. b. 10 percent. c. 23 percent. d. 36 percent.