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 73 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


connor417

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Excellent

 

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

For a complete list of videos, visit our video library