As disposable income decreases, consumption
A. and saving both increase.
B. decreases and saving increases.
C. and saving both decrease.
D. increases and saving decreases.
Answer: C
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Demand curves often do not remain stationary; they shift because of changes in other variables
a. True b. False Indicate whether the statement is true or false
"Government should not use price controls" is an example of:
A. Marshallian economics. B. normative economics. C. the art of economics. D. positive economics.
Exhibit 12-3 Unemployment categories CategoryWorkers Frictional unemployment250 Structural unemployment350 Cyclical unemployment600 Discouraged workers400 Underemployment450 According to data in Exhibit 12-3 and assuming the total number of people working is 8,400, the unemployment rate is
A. 5 percent. B. 12.5 percent. C. 16 percent. D. 24 percent.
The gold standard was helpful in stabilizing economies during the Great Depression
Indicate whether the statement is true or false