Autonomous Consumption Is

question 290

Multiple Choice

Autonomous consumption is

• A)that part of consumption that rises or falls with changes in disposable income.
• B)the minimum that people will spend even if disposable income is zero.
• C)the amount people will spend when the C line crosses the 45-degree line.
• D)the amount people will spend when income is equal to consumption.

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Definitions:

Legal Value

Consideration or benefit recognized by law as sufficient to form a valid contract or enforceable obligation.

Gross Inadequacy

An extreme lack of sufficiency or competence in performance or provision, often referenced in legal contexts concerning contractual or fiduciary obligations.

Bilateral Contract

A type of contract that involves two parties where each party makes a promise to the other.

Consideration

Something of value (such as an object, money, service, or promise) that is given by a party to induce another to enter into a contract.