The figure above shows a nation's consumption function. The amount of autonomous consumption expenditure is
A) $1 trillion.
B) more than $3 trillion.
C) $3 trillion.
D) $0.
E) $2 trillion.
A
Economics
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In an oligopoly industry, price:
a. will be lower than the competitive price, due to cost savings. b. will exceed the monopoly price, due to the destructiveness of competitive forces. c. cannot be predicted exactly, because it is likely to lie between the competitive and monopoly prices. d. none of these.
Economics
If an economy used gold as money, its money would be
a. commodity money, but not fiat money. b. fiat money, but not commodity money. c. both fiat and commodity money. d. functioning as a store of value and as a unit of account, but not as a medium of exchange.
Economics