The government can increase aggregate demand to combat unemployment and decrease aggregate demand to combat inflation

Which of the following is NOT an example of a factor of production?

A) Coal B) Tractors C) Cigarettes D) College graduates

As national income increases, consumption spending increases as well, always by the same amount. That is, as national income increases, MPC remains constant, according to

a. Duesenberry's relative income hypothesis b. Keynes's absolute income hypothesis c. Friedman's permanent income hypothesis d. Modigliani's life-cycle hypothesis e. real asset theory