If real disposable income is $300 billion and real consumer expenditures are $250 billion, it can be assumed that
A. the government is spending the difference.
B. the difference is being invested.
C. households are saving the difference.
D. transfer payments make up the difference.
Answer: C
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The following table displays the marks obtained by three students on an economics test
Student Marks Obtained (out of 100) Mary 78 Charles 83 Tony 65 a) Calculate the mean marks obtained by the three students. b) Suppose one of the scores was reported incorrectly. Charles scored 38 instead of 83. How will the mean change if the correction is incorporated? c) How does the amount of data used affect the accuracy of a model?
What will happen when there is a rightward shift in the demand curve?
A) The product price will instantaneously adjust downward. B) Product prices do not change in this situation. C) Producers will decrease the product price. D) A new, higher price is not instantaneously achieved, but the price will rise over time.