What Do Specific Action Tendencies Suggest

question 14

Multiple Choice

What do specific action tendencies suggest?

• A) one specific pathway to achieve a goal
• B) a broad range of possible behavioral options
• C) multiple pathways to achieve a goal
• D) a restricted range of possible behavioral options

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Definitions:

Disposable Income

The pool of funds households have for saving and spending pursuits after income taxes are factored out.

Consumption

The use of goods and services by households, constituting a major part of the economy's total output.

Permanent Income Hypothesis

A theory proposed by Milton Friedman suggesting that an individual's consumer behavior is determined by their long-term income expectations rather than their current income.

Services

Intangible products offered to consumers and other businesses, such as banking, education, and healthcare, which unlike goods, are not physical objects.