In an economy, the portion of household spending that occurs independent of household income is known as

When you make a purchase at a retail store by giving your bank an instruction to transfer funds directly from your bank account to the store's bank account, you have most likely made the purchase using

A) a loan. B) a debit card. C) credit. D) cash.

If an economy is represented by a point along its production possibilities curve

A) it can produce more of one product only if it produces less of another product. B) it cannot produce more of one product unless it stops producing the other product entirely. C) it can produce more of one product even if it does not produce less of another product. D) it cannot possibly produce more of one product, even if it produces less of another product.