The change in consumption divided by the change in disposable income is equal to
A) real GDP. B) household saving.
C) the slope of the consumption function. D) aggregate expenditure.
C
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Refer to Scenario 5.7. Since Natasha is a risk-neutral executive, she would choose
A) A. B) B. C) C. D) D. E) E.
The price elasticity of demand for a linear demand curve follows the pattern (moving from high prices to low prices):
a. elastic, unit elastic, inelastic. b. unit elastic, inelastic, elastic. c. inelastic, unit elastic, elastic. d. elastic, inelastic, unit elastic.
Which of the following is an example of a good with a highly elastic demand curve?
a. Pencils b. Books c. Bread d. Sports vehicles
A group of producers that agree to coordinate their production is called a
A. vertical merger. B. monopoly. C. free market competition. D. cartel.