The idea that consumption increases at the same rate as national income so that MPC is constant, is known as the
a. absolute income hypothesis
b. Keynesian income hypothesis
c. relative income hypothesis
d. permanent income hypothesis
e. rational income hypothesis
C
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A country benefits from trade if it is able to obtain a good from a foreign country:
a. that has a very low domestic demand. b. the production of which requires a steady supply of unskilled labor. c. by giving up less of other goods than it would have to give up to obtain the good at home. d. by giving up more of other goods than it would have to give up to obtain the good at home. e. that has a substantial number of substitutes in the domestic market.
TIAA-CREF, Teamsters' Union, and CalPERS are all primarily:
A. commercial banks. B. thrifts. C. insurance companies. D. pension funds.