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Author Question: Milton Friedman in his book on consumption function, discussed the importance of _____, rather than ... (Read 25 times)

tiffannnnyyyyyy

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on: Jun 30, 2018
Milton Friedman in his book on consumption function, discussed the importance of _____, rather than _____, to understand consumer spending.
 a. savings; expenditure
  b. permanent income; current income
  c. money supply; real output
  d. wages; savings
  e. real output; prices

Question 2

Which of the following is not associated with more inelastic demand?
 a. a limited amount of time for consumers to respond to a price change
  b. availability of many close substitutes
 c. large percentage of income spent on the good in question
 d. Neither b. or c. is associated with more inelastic demand


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Kimmy

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

b

Answer to Question 2

d


tiffannnnyyyyyy

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

amcvicar

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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