Autonomous Consumption Is the Level of Consumption That Is

question 191

Multiple Choice

Autonomous consumption is the level of consumption that is

• A) consistent with the average standard of living.
• B) observed at the poverty line.
• C) independent of real income.
• D) available to someone earning the minimum wage.

---

Definitions:

Government Policy Makers

Individuals or groups within the government responsible for developing, implementing, and amending policies and regulations.

Aggregate Demand Curve

A graphical representation showing the relationship between the overall price level in the economy and the total demand for goods and services at that level.

Expected Price Level

The anticipated average price of goods and services in an economy at a future date.

Private Sector

The part of the economy that is owned and operated by individuals and companies for profit, not controlled by the state.