Question
1. How would you explain autonomous consumption to someone outside of economics? 2. Autonomous consumption is autonomous from _? 3. Does your income in a
1. How would you explain autonomous consumption to someone outside of economics?
2. Autonomous consumption is autonomous from _?
3. Does your income in a year affect your autonomous consumption during that same year?
4. Describe something that affects auto cons?
5.Name an organization interested in estimating autonomous consumption (and why)that no other student has mentioned. (example:Mass Dept.of Welfare,how much do indigent families really need)
6. What does the 45' line represent?
7. For any example is MPC or APC steeper?
8. As income increases, APC rises, falls or remains constant?
9. As income increases, MPC rises, falls or remains constant?
10. As income increases, does consumption or savings rise faster,EXPLAIN WHY?(choosing one gets you no points, points are earned only with explanations about %v.$change)
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