A movement along in the consumption function is caused by a change in:
A. real disposable income.
B. can be caused by a change in the price level.
C. the marginal propensity to consume (MPC).
D. consumer wealth.
Answer: A
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If the Citrus Growers Association grows $1 million worth of oranges, sells $500,000 worth of oranges to consumers, uses the rest to make orange juice that is sold to consumers for $3 million, Citrus Grower's contribution to GDP is:
A. $3,500,000. B. $500,000. C. $4,000,000. D. $1,000,000.
The life insurance industry's share of total financial intermediary assets fell from 15.3% at the end of 1970 to 11.5% at the end of 1980 because of
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The Phillips curve relationship can also be seen indirectly from the AD/AS model
a. True b. False Indicate whether the statement is true or false
A dairy farmer must be able to calculate sunk costs in order to determine how much revenue the farm receives for the typical gallon of milk
a. True b. False Indicate whether the statement is true or false