The sum of consumption and investment is:

The sum of consumption and investment is:
a. total production.
b. aggregate supply.
c. aggregate disposable demand.
d. aggregate expenditures.

QUESTION 2

Credit cards are:
a. M1 money.
b. M2 money.
c. near money.
d. not money.

QUESTION 3

The economic system that answers the What, How and For Whom questions by central authority is a:
a. market economy. b. command economy
c. traditional economy. d. any of these

QUESTION 4

The consumption function is drawn on a graph with disposable income on the horizontal axis without including investment. Assume investment is autonomous and is added to the consumption function. The effect is:
a. an upward adjustment in the vertical intercept.
b. no change in the adjustment in the vertical intercept.
c. an increase in the slope of the consumption schedule.
d. a decrease in the slope of the planned expenditure schedule.

QUESTION 5

If something is a unit of account, then it:
a. serves as a yardstick for measuring the relative value of other goods
b. is a means of holding wealth for the future
c. is fairly stable
d. is durable and portable
e. is accepted as payment for any purchase

QUESTION 6

The economic system that answers the What, How and For Whom questions the way they have always been answered is a:
a. market economy. b. command economy
c. soviet economy. d. traditional economy.

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The sum of consumption and investment is:

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