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ECON 112 - MACROECONOMIC - Notes - Chapter 6 - practices exercise with answers. calculation formula includes
ECON 112 - MACROECONOMIC - Notes - Chapter 6 - practices exercise with answers. calculation formula includes
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1) Consumption have what kind& income
of relationship
Positive
-
2) Which hypothetical private, closed
types of spending is / are included in a
?
economy
Consumption
Investment
3) In a closed
, private economy Income minus consumption equals -
saving
4) the that
amount
of ppl spend regardless of how much income
they
earn is
referred to as autonomous
spending .
The
5) increase in
spending that results from a
higher income is
referred
induced
to as
spending .
6) Consumption is
positively related to household income
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