When a Person Gets an Increase in Current Income,what Is

question 89

Multiple Choice

When a person gets an increase in current income,what is likely to happen to consumption and saving?

• A)Consumption increases and saving increases.
• B)Consumption increases and saving decreases.
• C)Consumption decreases and saving increases.
• D)Consumption decreases and saving decreases.

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Definitions:

Buffoons

Individuals who behave in a ridiculous but amusing way; often used to refer to clowns or jesters historically.

Norm

A standard or expectation of behavior within a society or community that guides the actions of its members.

Role

The function or part that someone or something has in a particular situation or activity, often defined by society or culture.

Status Set

A collection of social statuses that an individual occupies at a given time, including ascribed statuses, achieved statuses, and master status.