Refer to Table 19-14. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2016 equals

In the consumption function, consumption is caused by changes in the:

a. price level. b. level of disposable income. c. interest rate. d. level of investment. e. level of real assets.

All decisions involve opportunity cost

a. True b. False Indicate whether the statement is true or false