Which of the following will shift the consumption function upward?
a. An increase in consumer wealth.
b. An increase in the interest rate.
c. An increase in personal income taxes.
d. A decrease in the MPC.
e. An increase in disposable income.
a
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Refer to the figure above. Which of the following statements is true?
A) Ryan has a comparative advantage in the production of Good 1, whereas Tom has a comparative advantage in the production of Good 2. B) Ryan has a comparative advantage in the production of Good 2, whereas Tom has a comparative advantage in the production of Good 1. C) Ryan has a comparative advantage in the production of both the goods. D) Tom has a comparative advantage in the production of both the goods.
Punitive damages are meant to
a. codified law b. criminal law c. common law d. case law e. all of the above