The slope of the consumption function can be determined by dividing the change in
a. real consumption spending by the change in real disposable income
b. nominal spending by the change in nominal disposable income
c. real disposable income by the change in real consumption spending
d. nominal disposable income by the change in nominal consumption spending
e. total consumption spending by the change in autonomous consumption spending
A
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When we measure GDP by income, production, or spending, one is certain to be larger than the others.
a. true b. false
If a policy is implemented that reduces unemployment benefits by 50 percent and reduces by 50 percent the time the unemployed can collect these benefits, then this would most likely shift the
A. labor supply curve to the left. B. labor supply curve to the right. C. labor demand curve to the right. D. labor demand curve to the left.