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Chap 27 Quiz E01-Spring, 2011 w ans

# Chap 27 Quiz E01-Spring, 2011 w ans - Chapter 27 Quiz Econ...

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Chapter 27 Quiz Econ 2301-Spring, 2011 Student________________________ Date:_____________________ 1. Disposable income equals: A . Consumption plus saving B. Consumption minus saving C. Saving times consumption D. Saving divided by consumption 2. The amount of consumption in an economy depends: A. Inversely on the level of disposable income B. Directly on the level of disposable income C. Inversely on the level of saving D. Directly on the rate of interest 3. When the consumption schedule is plotted on a graph: 5. As disposable income decreases, consumption:

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6. Refer to the above graph. At income level 3, the amount of saving is represented by the line segment: A . FG B. FH C. FD D. GH 7. Refer to the above graph. At income level 3, the amount of consumption is represented by the line segment: 8. Refer to the above graph. At income level 1, the amount of dissaving is represented by the line segment: A . AB B. AC C. AD D. BC 9. Refer to the above graph. At income level 1, the amount of consumption is represented by the line segment: A. AB B. AC C. AD D. BC 10. Refer to the above graph. Disposable income equals consumption at point: 11. Refer to the above graph. The break-even level of income would be at income level:
12. Refer to the above graph. As income rises from level 1 to level 2, the amount of: A . Consumption increases and the amount of dissaving decreases B. Consumption increases and the amount of dissaving increases C. Consumption increases and the amount of saving decreases D. Consumption decreases and the amount of saving increases

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Chap 27 Quiz E01-Spring, 2011 w ans - Chapter 27 Quiz Econ...

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