The Slope of the Consumption Function Is Equal to

question 131

Multiple Choice

The slope of the consumption function is equal to

• A)the change in consumption divided by the change in disposable income.
• B)the change in consumption divided by the change in personal income.
• C)the change in disposable income divided by the change in consumption.
• D)the change in national income divided by the change in consumption.

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Definitions:

Carnegie Steel

A steel production company established by Andrew Carnegie in the late 19th century, which played a significant role in the growth of the American steel industry.

Standard Oil

An American oil producing, transporting, refining, and marketing company established by John D. Rockefeller, which was a major part of the early petroleum industry and later broken up due to antitrust laws.

Singer Sewing Machines

A brand of sewing machines that became synonymous with the domestic and industrial sewing machine industry starting in the 19th century.

Aristocracy

Aristocracy refers to a form of government in which power is held by the nobility, a privileged class that possesses hereditary titles or ranks, and often has wealth, social status, and political influence.