If Consumers Decide to Be More Frugal and Save More

question 5

Multiple Choice

If consumers decide to be more frugal and save more out of their income,then this will cause

• A)a shift in the supply curve for loanable funds to the right.
• B)a shift in the supply curve for loanable funds to the left.
• C)a movement to the right along the supply curve for loanable funds.
• D)a movement to the left along the supply curve for loanable funds.

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Definitions:

Labor Costs

The total amount of money a business spends on employee salaries, wages, and other benefits.

Individual Job

Definition: A distinct task or project undertaken by a business, where costs and revenues can be directly attributed and tracked.

Time Tickets

The form on which the amount of time spent by each employee and the labor cost incurred for each individual job, or for factory overhead, are recorded.

Product Cost

Product cost is the total expense incurred to produce and deliver a good or service, including direct materials, direct labor, and manufacturing overhead.