When disposable income is extremely low,
A. autonomous consumption is greater than induced consumption.
B. induced consumption is greater than autonomous consumption.
C. autonomous consumption is equal to induced consumption.
D. autonomous consumption is rising.
A. autonomous consumption is greater than induced consumption.
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Which of the following federal agencies is engaged in economic regulation?
A) Occupational Safety and Health Administration B) Federal Motor Carrier Safety Administration C) Food and Drug Administration D) Consumer Product Safety Commission
If, after careful analysis, an economist concludes that there has been a market failure, which of the following possible corrective actions might the economist favor? Why?
a. prohibiting the activity b. charging fees for continuing the activity c. requiring that the public be informed of the activity d. government purchase of the item for the public