12th Grade Budget Constraint Quizzes, Questions & Answers

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This quiz assesses understanding of key macroeconomic concepts in Chapter 10, focusing on consumer spending, consumption, saving, and the relationship between income and spending. It is essential for students learning Economics...

Questions: 40 | Attempts: 1088 | Last updated: Mar 21, 2025

Sample Question 1
The most important determinant of consumer spending is

The level of household borrowing

Consumer expectations

The stock of wealth

The level of income

Sample Question 2
The most important determinant of consumption and saving is the

Level of bank credit

Level of income

Interest rate

Price level

Sample Question 3
If Carol's disposable income increases from $1200-$1700 and her level of saving increases from minus $100 to a plus $100 per marginal propensity to

Save is 3/5

Consume is one half

Consume is 3/5

Consume is 2/5