A permanent increase in income leads to
A) a small increase in current consumption.
B) a large increase in current consumption.
C) a small decrease in future consumption.
D) a large decrease in future consumption.
B
Economics
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Which of the following is an accurate statement?
a. Market allocation is illegal because it helps a business make a profit. b. Market allocation is illegal because it reduces competition. c. Market allocation is illegal because it is based on price-sensitivity. d. Market allocation is illegal because it is caused by elasticity of demand.
Economics
A free market can be defined as a market structure where all exchanges are voluntary, and prices are free to fluctuate. Does a perfectly competitive market qualify as a free market?
What will be an ideal response?
Economics