The above figure shows the relationship between the Joneses' total consumption and total household income. The figure illustrates that the Joneses' total consumption varies
A) directly with their total household income.
B) independently of their total household income.
C) inversely with their total household income.
D) negatively with their income.
A
Economics
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The relationship between quantity supplied and price is usually
A) an inverse relationship. B) a direct relationship. C) a negative relationship. D) impossible to determine.
Economics
Fluctuations around the long-term growth rate are called:
A. depressions. B. recessions. C. expansions. D. business cycles.
Economics