Which of the following is the definition of autonomous consumption spending?
a. The effect of a change in wealth on consumption spending
b. The part of consumption spending that is independent of disposable income
c. The impact of disposable income on consumption spending
d. The part of consumption spending that is independent of wealth
e. The horizontal intercept of the consumption function
B
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Unions whose membership is confined to workers with a particular skill are known as
a. industrial unions b. limited unions c. regional unions d. craft unions e. inclusive unions
A decline in the interest rate will lead to an increase in the price of capital, supply of capital remaining constant
a. True b. False Indicate whether the statement is true or false
The value of the resources flowing into firms is precisely the value of the goods and services flowing out of the firms
Indicate whether the statement is true or false
Is GDP a good measure of our economic well being? Explain.