The Relationship Describing How Consumption Depends on Income Is Known

question 59

Multiple Choice

The relationship describing how consumption depends on income is known by economists as

• A)the income function.
• B)the budget constraint function.
• C)the purchasing function.
• D)the affordable function.
• E)None of these

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Definitions:

Legitimate

Lawfully recognized or conforming to established rules and standards, having a justified or recognized claim.

Informal

Relating to interactions that occur in a casual or non-official capacity.

Politic Appropriately

The practice of navigating and engaging in workplace or organizational politics in a manner that is considered suitable and tactful.

Evaluating Organization

The practice of assessing the structures, procedures, and outcomes within an organization to determine effectiveness and efficiency.