In the simple Keynesian consumption function, consumption demand is
A) a function of disposable income alone.
B) a function of disposable income and an autonomous component.
C) simply an autonomous amount exogenous to the model.
D) a function of the interest rate and an autonomous component.
E) a function of the interest rate alone.
B
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Which of these is an advantage of long-term contracts in resource markets? a. Long-term contracts decrease the duration of recessionary gaps. b. Long-term contracts reduce unemployment below its natural rate. c. Long-term contracts help avoid recession in an economy
d. Long-term contracts increase the flexibility of nominal wages. e. Long-term contracts reduce the average cost of negotiation.
If consumer tastes are changing more in favor of the consumption of a particular good the:
a. market demand curve will shift to the left. b. consumer will move up a given demand curve, decreasing the quantity demanded. c. consumer would move down a given demand curve, decreasing the quantity demanded. d. consumer would move down a given demand curve, increasing the quantity demanded. e. market demand curve would shift to the right.
Golf course developers who buy the land around the golf course they build are attempting to: a. impose external costs on non-consenting third parties. b. internalize external benefits
c. turn a private good into a public good. d. internalize external costs.
The "high-tech revolution" grew out of many tiny start-up operations. This is an argument that more technological change occurs in ________ market structures.
A. oligopolistic B. monopoly C. more competitive D. duopoly