Schemes Refer to

question 36

Multiple Choice

Schemes refer to

• A) actions or mental representations that organize knowledge.
• B) the incorporation of new information into existing knowledge.
• C) groups of behaviors.
• D) knowledge that has been adjusted to fit new experiences.

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Definitions:

Disposable Income

Households' spendable and savable funds following income tax deductions.

Autonomous C

Spending by consumers that does not depend on current income levels, such as basic needs or contractual obligations.

Disposable Income

The budget households have for saving and spending activities after income taxes deductions.

Induced Consumption

Consumer spending that increases as income rises, and decreases when income falls, reflecting a direct relationship between income and consumption.