Consumption spending that is independent of the level of income is known as

a. marginal consumption
b. transitory consumption
c. permanent consumption
d. relative consumption
e. autonomous consumption

E

Economics

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The story about the mass slaughter of buffalo in the United States, which allowed the products to be exported during the 1870s, is an example of:

a. the first-mover principle. b. the principle of comparative advantage. c. the tragedy of the commons. d. export subsidies.

Economics

Refer to the above table. What does the marginal revenue product equal when 26 workers are hired a week?

A) $8.50 B) $26 C) $221 D) $1190

Economics