When consumers spend and buy things regardless of their level of income, this is known as
A) bad financial management. B) using credit to its maximum.
C) living the good life. D) autonomous consumption spending.
D
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The interest rate on a bond is
A) the difference between the face value and the bond price, expressed as a percentage of the face value. B) the difference between the face value and the bond price, expressed as a percentage of the bond price. C) the ratio of the face value and the bond price, expressed as a percentage. D) the difference between the face value and the yield, expressed as a percentage of the bond price.
The kinked demand curve model of oligopoly explains why oligopoly
a. firms cannot maximize their profits b. firms do not lower prices to increase market share c. firms tend to increase price d. firms tend to decrease price to their minimum ATC e. tends to generate a higher economic profit than in any other market structure