Which component of consumption has a negative or indirect relationship with consumption?
A. Expected future income
B. Real income
C. Wealth
D. Interest rates
D. Interest rates
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Borrowers who use "exotic" mortgages when purchasing a home must expect
A. Congress will act to make everything "turn out in the end." B. their income to increase. C. the value of the home to increase. D. an increase in the value of the home and their income.
Refer to Figure 2-3. Carlos Vanya grows tomatoes and strawberries on his land. A portion of his land is more suitable for growing tomatoes and the other portion is better suited for strawberry cultivation
Which of the graphs in Figure 2-3 represent his production possibilities frontier? A) Graph A B) Graph B C) Graph C D) either Graph A or Graph B E) either Graph B or Graph C
Under conditions of perfect competition, average fixed cost
a. rises as output increases. b. falls as output increases. c. decreases then rises. d. increases and then falls.
In a Malthusian world, what would improve the standard of living permanently?
A) a war B) a new medical drug C) birth control D) democracy