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Are consumption and income inversely related or directly related?
MichaelAron
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How much energy does a 5000 population town use?
Typical power consumption varies widely, depending on the income, and the climate (since much energy is used for heating). Typical power consumption in the USA seems to be about 2 kW PER HOUSEHOLD, in the long-term average. You can make an estimate about the number of households (perhaps 4 or 5 people per household), and base your calculations on that.Note that the above is about POWER usage. The actual ENERGY used will be the power, multiplied by the time period considered.
What factors determine standard of living?
Cost of Living and salary influences local purchasing power. Local purchasing power, health care quality, crime rate and other factors influences standard of living. To get some details about local purchasing power and cost of living perhaps consult : http://www.numbeo.com/cost-of-living/
What are the main sources of state revenue and how do they differ from the main sources of local revenue?
The main sources of state revenue come from personal income tax. They differ from the main sources of local revenue because states get income, property and sales taxes local governments get property taxes plus they get money from the state.
How much physicists make?
In the United States, the average annual income for a physicist is $92,000. The average annual salary for a physicist in Connecticut is $106,000.
If A company's income statement shows that their financial picture is headed in a negative direction rather than a positive direction. what must be true about this situation?
The company likely had more expenses than revenue.
What does the amount of consumption in an economy depend on A. Inversely on the level of disposable income B. Directly on the level of disposable income C. Inversely on the level of saving?
level of saving
Are consumption and income positively related or are they negatively related?
They are positively, or directly related. An increase in income is associated with an increase in income; a decrease in consumption accompanies a decrease in income.
Income not used for consumption is considered as what?
The income that is not used for consumption is called disposable income
What is the difference between consumption and income?
the difference between income and consumption
Income consumption curve?
income consumption curve is the collection of points of the consumer's equilibrium resulting from varying income.....
How is the MPC related to the consumption function?
It is connected by the formula(consumption function) C =A+MD where C = Consumer spending A=Autonomous consumption M=Marginal Propensity to consume D=real disposable income
If a good is a normal good what will happen to its consumption as income increases?
The definition of a Normal Good is: a good that will increase in consumption as income increases and decrease in consumption as income decreases.
What is Market Consumption Capacity?
Market Consumption Capacity is basically the income of the middle class. (The percentage share of the middle class in consumption/income)
The consumption function relates the consumption expenditure decisions of households?
to the level of disposible income
The 45-degree line on a graph relating consumption and income shows?
all the points at which consumption and income are equal
Meaning of autonomous consumption spending?
It is the part of consumption that does not depend on income.
What is the primary disadvantage to having to having a total consumption budget?
With a total consumption budget, there is no net income or savings.
