Consider the Consumption Function in Our Macro Model

question 145

Multiple Choice

Consider the consumption function in our macro model.The key factors that influence desired consumption are assumed to be

• A)expectations about the future.
• B)wealth.
• C)interest rates.
• D)disposable income.
• E)all of the above

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Definitions:

Process Re-Engineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance such as cost, service, and speed.

Systems Bottlenecks

refer to points of congestion in a system where the flow of processes is impaired, causing delays and inefficiencies.

Productivity

A measure of how efficiently outputs (goods and services) are produced from inputs (labor, capital, materials).

Global Financial Crisis

Was a consequence of sub‐prime mortgage defaults in the United States in 2008 and culminated in a worldwide recession.