According to Friedman, people behave differently with respect to the different kinds of incomes they earn. For example, the MPC in 2002 is associated with their _________ income earned in 2000 . The difference between the income earned in 2001, and that income in 2002 is called ___________ income

Frank spends Saturday afternoon at the Dodge dealership looking at new trucks. The model that he is interested in has a sticker price of $29,000. The fact that the price is quoted in dollars is an example of money used as a

A) medium of exchange. B) unit of account C) store of value. D) All of the above answers are correct.

If MRS > MRT, then the consumer is better off than at equilibrium

Indicate whether the statement is true or false