For saving to increase, consumption must decrease, ceteris paribus

If the percentage change in quantity demanded is greater (in absolute value) than the percentage change in price, then demand

a. determines supply b. is indeterminate c. is elastic d. is inelastic e. is unit elastic

The wealth effect explains the:

A. positive relationship that exists between consumer spending and overall price level. B. negative relationship that exists between consumer spending and overall asset valuation. C. positive relationship that exists between consumer spending and overall asset valuation. D. negative relationship that exists between consumer spending and overall price level.