Multiple Choice
In a one-period economy
A) consumption equals disposable income plus the value of non-market work.
B) consumption equals disposable income.
C) consumers may increase their consumption by borrowing.
D) consumers save more than they consume.
E) savings is always positive.
Correct Answer:
Verified
Correct Answer:
Verified
Q48: Two key properties of indifference curves are
Q49: A consumer maximizes satisfaction at the point
Q50: An increase in the real wage<br>A)represents a
Q51: A good is normal for a consumer
Q52: The representative consumer acts competitively<br>A)when he or
Q54: Constant returns to scale means that,
Q55: With consumption on the vertical axis
Q56: A dynamic decision is one that<br>A)involved planning
Q57: In macroeconomic analysis, the representative consumer<br>A)is always
Q58: The profit-maximizing quantity of labour equates the