Time-Series Studies of Consumption Reveal That

question 44

Multiple Choice

Time-series studies of consumption reveal that

• A)the long-term saving ratio is rising.
• B)the long-term saving ratio is falling.
• C)the long-term saving ratio is constant but the marginal propensity to consume is falling.
• D)both the long-term marginal propensity to save and the long-term saving ratio are constant.

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Definitions:

Direct Labour-Hours

The total amount of time workers spend directly manufacturing a product or providing a service.

Prototype Testing

The process of evaluating a preliminary model of a product to assess its performance, design, and reliability before it goes into mass production.

Batch Level Activity

Operations or tasks that are performed on groups of products together, typically as a step within the production process, where costs are incurred for the batch as a whole rather than for individual units.

Unit Level Activity

Activities that vary with the number of units produced or sold, directly impacting the cost of goods or services.