By Studying What They Call the "Household Deficit," Economists Have

question 45

Multiple Choice

By studying what they call the "household deficit," economists have determined that 

• A)there has been a decrease in real wages.
• B)that inflation has had little impact on household spending.
• C)the rate of household indebtedness has declined slightly since 1980.
• D)the difference between what people earn and what they spend has escalated in the final decades of the 20th century.
• E)all of these choices

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at each price level.

Consumer Surplus

The discrepancy in the total amount anticipated to be paid by consumers and the amount that is actually paid for a product or service.

Shipping Increases

A rise in the cost or amount required to transport goods from one location to another, potentially affecting trade and sales prices.

Decertification

The process by which a labor union is removed as the representative of the employees in a bargaining unit, typically through a vote by the employees.