Which of the following isn't one of the eight determinates of the level of consumption? A. Disposable Income B. Keeping up with the Joneses C. The Wealth Effect D. Product Qualit
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A. |
Disposable Income
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B. |
Keeping up with the Joneses
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C. |
The Wealth Effect
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D. |
Product Quality
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- Create a speech about the relationship of income, saving and consumption to price changes in shopping.Explain the concept of household types and theirinfluence on consumptionSavings must be invested in order to bridge the gap between: a. a drop in both income and consumption b. a rise in both income and consumption c. to check the ratio of investment in income
- Rice is considered to be the staple food in the Philippines, so that when its price escalates, spending of the consumer will Select one: a. Decrease b. increase c. decrease rapidly d. increase rapidlyExplain the impact of the change in consumer's income on the demand of goods and services.There are several factors that have influenced the importance of purchasing andsupply”. Justify this statement by discussing information technology as a major factor.Provide an example of your choice to explain the factor.
- Which of the following two effects of a decrease in the tax rate on saving would raise savings? a. the income effect and the substitution effect b. the income effect but not the substitution effect c. the substitution effect but not the income effect d. neither the substitution effect nor the income effectJason spends his entire budget on coffee and doughnuts. You have the following data on his choices: Table 1: Jason's consumption choice and budget Price / cup of coffee Price / doughnut cups purchased doughnuts purchased Income February 2 1 4 22 March 5/2 3/4 10 8 31 April 3 1/2 8 14 31 Assume Jason 's preferences are monotone, the same over the three months, and that he has no way to save or borrow across periods. Are Jason's choices consistent with utility maximization?Which of the following statements is correct? a. The demand for future goods is derived from consumers’ utility maximization problems over current and future consumption goods. b. It is the present value of future consumption goods that enters into the budget constraint of a consumer’s utility maximization problem over current and future consumption goods. c. The solution to a consumer’s utility maximization problem over current and future consumption goods can be interpreted as wealth not currently consumed that is invested to yield future consumption. d. All of the above.
- 1) Graph the relationship between income and consumption from the table below. 2) Does this relationship have a positive or negative slope? 3) What is the slope from point B to point C? Income Consumption Point $0 $50 A $100 $100 B $200 $150 C $300 $200 D $400 $250 EHelp mea. What are reasons why an increase in income may lead to a desire for more children? b. What are reasons why an increase in income may lead to a desire for fewer children? c. Empirically, what relationship do we observe between income and number of children?
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