The fraction of a change in disposable income that is consumed is called _____
a. autonomous consumption
b. induced consumption
c. the multiplier
d. the marginal propensity to consume
e. the marginal propensity to save
d
Economics
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The leadership of unions must recognize that they face
A) an economic system that is hostile to the interests of workers. B) a no-win situation whenever they think a strike is necessary. C) a fundamental trade-off between higher wages for members and higher taxes for members. D) a fundamental trade-off between higher wages for members and fewer jobs for members.
Economics
When quantity supplied is not very responsive to a change in price, supply is
A) elastic. B) unit-elastic. C) inelastic. D) income sensitive.
Economics