This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Milton Friedman in his book on consumption function, discussed the importance of _____, rather than ... (Read 27 times)

tiffannnnyyyyyy

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


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

b

Answer to Question 2

d


tiffannnnyyyyyy

  • Member
  • Posts: 512
Reply 2 on: Jun 30, 2018
Excellent

DylanD1323

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

The structure of stomatal guard cells affects their function. The structure of stomatal guard cells affects their function.
Incentive spirometry. A portable incentive spirometer is useful for encouraging patients to exercise Incentive spirometry. A portable incentive spirometer is useful for encouraging patients to exercise
How to find the indefinite integral of a function How to find the indefinite integral of a function
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
Periodic Function p1 Periodic Function p1
Structure and function of the Gal4p activator Structure and function of the Gal4p activator
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library