Where Were the First Two Universities

question 36

Multiple Choice

Where were the first two universities?

• A)Oxford and Cambridge
• B)Rome and Paris
• C)Rome and Bologna
• D)Paris and Bologna
• E)Paris and Oxford

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Definitions:

Autonomous Consumption

The level of consumption that occurs when income is zero, reflecting the basic level of consumption that does not vary with disposable income.

Disposable Income

Monetary provision for households to engage in saving and spending after the imposition of income taxes.

Induced Consumption

Refers to the portion of consumer spending that changes in response to changes in income levels, typically increasing as disposable income rises.

Dissaving

The action of spending more money than received as income, typically by drawing down savings or borrowing.