This topic contains a solution. Click here to go to the answer

Author Question: Milton Friedman in his book on consumption function, discussed the importance of _____, rather than ... (Read 71 times)

tiffannnnyyyyyy

  • Hero Member
  • *****
  • Posts: 512
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kimmy

  • Sr. Member
  • ****
  • Posts: 342
Answer to Question 1

b

Answer to Question 2

d




tiffannnnyyyyyy

  • Member
  • Posts: 512
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


TheDev123

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Gracias!

 

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

For a complete list of videos, visit our video library