Refer to the above figure. The figure represents the consumption function for a consumer. Point A represents
A. autonomous consumption.
B. positive saving.
C. negative consumption.
D. zero saving.
Answer: A
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Persistent deficit after 1980 was almost entirely due to
A) higher share of expenditures in GDP. B) lower tax revenue. C) lower share of expenditures in GDP. D) Higher tax revenue.
A price taker is a buyer or seller who:
A. has the goal of maximizing market share, not profits. B. has complete control over setting the market price. C. can influence the market price. D. has no control over setting the market price.
If the price of jelly increases 10 percent and the amount of peanut butter purchased decreases 20 percent, then the cross-price elasticity of these goods is:
A. 2. B. 5. C. - 2. D. 0.5.
That an increasing number of jobs that do not pay enough to subsist on is ____ theory of poverty.
A. a conservative B. a liberal C. both a liberal and a conservative D. neither a liberal nor a conservative