The difference between consumption spending and disposable income _____
a. decreases as income increases
b. stays proportionally the same as income increases
c. decreases if the interest rate increases
d. equals the amount of taxes paid
e. equals saving
e
Economics
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In the two-period utility maximization model the opportunity cost of one unit of C1 is
a. one unit of C0. b. 1 + r units of C0. c. 1/(1 + r) units of C0. d. cannot be determined without more information.
Economics
Households supply four basic types of resources. They include all of the following except
a. natural resources b. final goods and services c. capital d. entrepreneurial ability e. labor
Economics