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Author Question: Which of the following is true of credit cards? a. They have eliminated the use of money. b. They ... (Read 49 times)

robinn137

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on: Jun 30, 2018
Which of the following is true of credit cards?
 a. They have eliminated the use of money.
 b. They are currently the most popular means of payment in the United States.
  c. They are included in the narrow definition of money, M1.
 d. They are near-monies.
 e. They are used to postpone the payment of money.

Question 2

If a household's income falls from 20,000 to 17,000 and its consumption spending falls from 18,000 to 15,000, then its:
 a. marginal propensity to consume is 0.67.
  b. marginal propensity to consume is 0.88.
  c. marginal propensity to consume is 0.20.
  d. marginal propensity to save is 0.
 e. marginal propensity to save is 0.12.


bfulkerson77

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

d


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