Exhibit 8-6 Consumption function
?
In Exhibit 8-6, the level of autonomous consumption is:
A. $100.
B. $150.
C. $50.
D. $0.
Answer: A
You might also like to view...
The percentage change in quantity demanded that results from a 1 percent change in price is known as the:
A. price elasticity of supply. B. cross-price elasticity of demand. C. price elasticity of demand. D. income elasticity of demand.
In the figure below, $40,000 for certain is as desirable as $47,000 with risk.
A. True
B. False
C. Uncertain
Which of the following statements is true with respect to a tariff on imported cheese?
a. It lowers the price of cheese. b. It lowers domestic cheese producers' profit. c. It creates tax revenues for the government. d. It cannot result in retaliation. e. It increases the amount of foreign cheese sold on domestic markets.
If a country is exporting a good, this is because the country has an absolute advantage in the production of that good
a. True b. False Indicate whether the statement is true or false