The Series of Induced Changes in Consumption Spending That Result

question 62

Multiple Choice

The series of induced changes in consumption spending that result from an initial change in autonomous expenditure is called the

• A) induced effect.
• B) autonomous effect.
• C) multiplier effect.
• D) consumption effect.

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Definitions:

Condition

An essential term of a contract.

Replacement Warranty Clause

A provision in a contract or agreement guaranteeing the replacement of defective goods or services within a specified period.

Rescind

To revoke, cancel, or repeal a contract, agreement, or resolution, effectively rendering it null and void.

Defective Parts

Components of a product that are faulty, malfunctioning, or fail to meet quality standards.