According to Keynes's absolute income hypothesis, if Record Swap store manager Brenda Nielsen and pop singer Madonna were each given $1,000,
a. Madonna would likely spend less of the $1,000 on consumption than Brenda
b. Madonna would likely spend more of the $1,000 on consumption than Brenda
c. Madonna and Brenda would spend equal amounts of the $1,000 on consumption
d. Madonna and Brenda would save equal amounts over their lifetimes
e. Neither Madonna nor Brenda would save any of the $1,000
A
Economics
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The product life cycle model says that comparative advantage in manufactured goods may move from one country to another as a product becomes more standardized
Indicate whether the statement is true or false
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An example of a negative externality created in the market system would be
A) poverty. B) unemployment. C) an increased number of bird flu patients. D) water pollution.
Economics