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
Hierarchy of evidence
Common skin signs are often evidence of an illness or disorder. A nodule is a larger papule; acne ...
Average Hourly Earnings of U.S. Workers in Current and Constant Dollars
Four kinds of evidence supporting the theory that species evolve.
Current and future trends and impacts (IPCC)
Genomic and fossil evidence has been used to estimate the times of divergence of human and Neanderth