Examlex
Which of the following describes a reaction mechanism?
I.Consists of a series of elementary steps
II.Reproduces the experimentally determined rate law
III.Is the way the reaction actually occurs
Autonomous Consumption
The level of consumption that occurs when income is zero, representing the consuming behavior independent of current income.
Aggregate Household
The combined and total measure of all consumers in an economy, accounting for all spending and consumption.
Disposable Income
The amount of money that individuals or households have available to spend or save after income taxes have been deducted.
Autonomous Consumption
The level of consumption that occurs when income is zero, representing the amount that needs to be consumed to sustain a basic standard of living.
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