A Movement from One Point to an Another Point on the Same

question 154

Multiple Choice

A movement from one point to an another point on the same consumption function could be caused due to

• A)changes in wealth.
• B)an increase in the general price level.
• C)decrease in the real interest rates.
• D)changes in disposable income.

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Definitions:

Sets of Numbers

A mathematical concept that refers to a collection of distinct objects, often numbers.

Positive Correlation

A relationship between two variables where both variables move in tandem, meaning as one variable increases, the other increases as well.

Selection Criterion

The set of standards or qualifications used to evaluate and choose among candidates or options.

Valid

Acceptable, sound, or well-founded; often used in reference to arguments, claims, or data that are logically correct or empirically verifiable.