An increase in the wealth of households, other things remaining the same, can result in ____ the consumption function
a. no effect on
b. an upward shift in
c. a movement to the left along
d. a downward shift of
b
Economics
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If a consumer is relatively insensitive to changes in the price of a good, then the consumer's demand for the good is
A) elastic. B) unit elastic. C) inelastic. D) perfectly elastic.
Economics
The poor have demonstrated a marked ability to move out of poverty when economic opportunities improved
Indicate whether the statement is true or false
Economics