Consider the above figure. Autonomous consumption, in this scenario, is equal to

When profits are the result of pure luck, they can be distinguished from profits attributable to correct predictions by

A) asking the people who profited. B) finding out whether the profits were earned through effort. C) no known empirical criteria. D) whether or not they were generally anticipated.

Giffen goods

A) are theoretical and have never been discovered in the real world. B) have not existed since prior to the Industrial Revolution. C) were proven to exist in the 1890s by Sir Robert Giffen. D) were not shown to actually exist until 2006.