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Author Question: Which of the following is evidence that consumption depends on total wealth, and not just on current ... (Read 59 times)

LaDunn

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on: Jun 30, 2018
Which of the following is evidence that consumption depends on total wealth, and not just on current income?
 
  A) People save very little for their retirement.
  B) The pre-announced phased-in tax cuts of 1981-83 caused little change in consumption in 1981.
  C) A drop in consumer confidence, with unchanged current income, often causes total consumption spending to fall.
  D) all of the above
  E) none of the above

Question 2

Which of the following best defines the LM curve?
 
  A) the combinations of i and Y that maintain equilibrium in the goods market
  B) illustrates the effects of changes in i on investment
  C) illustrates the effects of changes in i on desired money holdings by individuals
  D) the combinations of i and Y that maintain equilibrium in financial markets


lkoler

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

C

Answer to Question 2

D


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