What is the consumption function? What factor leads to a movement along the consumption function?
What will be an ideal response?
The consumption function is the relationship between disposable income and the amount of consumption expenditure, other things remaining the same. A change in disposable income results in a movement along the consumption function.
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How would government's role differ between the balanced and unbalanced growth models?
What will be an ideal response?
Which of the following is FALSE about issues/negotiations in the Doha Development agenda?
A) It is intended to deal with economic development issues and trade barriers facing developing countries that were not adequately addressed in the Uruguay Round. B) Many developing countries are upset with the levels of tariffs and other barriers that industrialized countries use to protect agriculture, clothing and textiles. C) Industrialized countries want developing countries to reduce their tariffs, which on average are higher than the rates of richer countries. D) Developing countries don't use tariffs, and they want higher income countries to follow their model.