Choose the appropriate term for each statement. Word Choices:

(A) income
(B) interest rate
(C) expectations
(D) wealth
(E) household debt
(F) taxes

1. Keynesian economists think that ___ is the key determinant of consumption and spending.
2. Classical economists think that the higher the _, the more people will save, which means that they will consume less.
3. A person's _ about how much income he/she will earn in the future as well as future prices could shape how much he/she spends and saves today.
4. The more _ the person has, the less current consumption he/she undertakes.
5. A person's total income can be divided into three components: consumption, savings, and _.
6. Savings, which is total income minus consumption and taxes, can be used to create more ___.

Question

02-03-2020
Business

contestada

Choose the appropriate term for each statement. Word Choices:

(A) income
(B) interest rate
(C) expectations
(D) wealth
(E) household debt
(F) taxes

1. Keynesian economists think that ___ is the key determinant of consumption and spending.
2. Classical economists think that the higher the _, the more people will save, which means that they will consume less.
3. A person's _ about how much income he/she will earn in the future as well as future prices could shape how much he/she spends and saves today.
4. The more _ the person has, the less current consumption he/she undertakes.
5. A person's total income can be divided into three components: consumption, savings, and _.
6. Savings, which is total income minus consumption and taxes, can be used to create more ___.

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Answer:

1. Keynesian economists think that _Income is the key determinant of consumption and spending.

2. Classical economists think that the higher the _interest rates____, the more people will save, which means that they will consume less.

3. A person's _expectations about how much income he/she will earn in the future as well as future prices could shape how much he/she spends and saves today.

4. The more _wealth the person has, the less current consumption he/she undertakes.

5. A person's total income can be divided into three components: consumption, savings, and household debt.

6. Savings, which is total income minus consumption and taxes, can be used to create more __taxes.