Milton Friedman in his book on consumption function, discussed ...

[tiffannnnyyyyyy]

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

[Kimmy]

Answer to Question 1

b

Answer to Question 2

d

[tiffannnnyyyyyy]

TYSM

[ashely1112]

Gracias!