The short-run model makes use of the , which assumes that private consumption expenditure is sensitive to changes in current income.
a. Pareto-optimal condition
b. consumer sovereignty model
c. Keynesian consumption function
d. consumption-smoothing model
Ans: c. Keynesian consumption function
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A nation with an official settlements balance of $50 billion is likely to experience a:
A) balance of payments surplus and accumulate $50 billion in international reserves B) balance of payments deficit and accumulate $50 billion in international reserves C) balance of payments surplus and a decline of $50 billion in international reserves D) balance of payments deficit and a decline of $50 billion in international reserves
Social Security Income (SSI) is available for all, except
A. aged. B. immigrants. C. blind. D. disabled.
Only a bare majority of minority and women workers favor special preferences
Indicate whether the statement is true or false
________ is the amount of money a company receives for selling its product or service.
A. Revenue B. Average marginal revenue C. Cost D. Profit