Consumption is. wealth, and ___________ related to interest rates. O negatively; positively positively; is not O positively; positively O positively; negatively related to household income and
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- Exercise D12 What are the components on which the aggregate expenditure function is based?Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?Exercise B7 What is an income effect?
- 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.Explain the impact of the change in consumer's income on the demand of goods and services.Calculate the value of income if consumption is $2000 and savings is $1200