The non-income determinants of consumption include all of the following EXCEPT

A) real wealth. B) the interest rate.
C) stock of assets owned by household. D) innovation.

D

Economics

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Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Suppose the equilibrium is for a factory in Los Angeles

What would happen if the same factory were in the middle of Nevada? A) The marginal cost curve (1 ) would shift to (2 ) and there would be no difference in the level of abatement. B) The marginal cost curve (2 ) would shift to the left and there would be less abatement in Nevada. C) The marginal benefit curve (4 ) would shift to the left and there would be less abatement in Nevada. D) The marginal benefit curve (2 ) would shift to the right and there would be more abatement in Nevada.

Economics

Lin is maximizing total utility while consuming food and clothing. Her marginal utilities of food and clothing are 50 utils and 25 utils, respectively. If clothing is priced at $10 per unit, the price of a unit of food

a. must be rising b. must be falling c. must equal $10 as well d. must equal $20 e. cannot be determined without additional information.

Economics