Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

25. Which one of the following statements is INCORRECT? (4 marks) The level of autonomous consumption is determined by the non-income determinants of consumption spending.

image text in transcribed
25. Which one of the following statements is INCORRECT? (4 marks) The level of autonomous consumption is determined by the non-income determinants of consumption spending. The impact of a change in one or more of the non-income determinants of consumption can be illustrated by a shift of the consumption function. The level of autonomous consumption determines the position of the consumption function. Investment spending is the most stable component of aggregate spending in the economy END OF PAPER

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hostile Money Currencies In Conflict

Authors: Paul Wilson

1st Edition

075099178X, 9780750991780

More Books

Students also viewed these Economics questions

Question

What is the coefficient of determination and how is it computed?

Answered: 1 week ago

Question

Describe the factors influencing of performance appraisal.

Answered: 1 week ago