Which of the following would lead to a decrease in autonomous consumption spending?
a. a decrease in disposable income
b. an increase in disposable income
c. an increase in the interest rate
d. more optimistic expectations about future income
e. an increase in wealth
C
Economics
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Because of the income effect, the labor supply curve is
A) eventually backward bending as wage rate increases. B) positively sloped. C) horizontal. D) vertical.
Economics
________ refers to the implicit cost associated with the next best alternative in a set of choices available to decision-makers
A) Specialization B) Resource scarcity C) Opportunity cost D) None of the above
Economics