Question: How can there be "Autonomous Spending" even when a person has zeroincome?O a) All of the above are correct.b) People need to consume at least a minimum to stay alive.UO People need a certain level of consumption even if they do not have income.O d) People spend money from their savings, borrowing or from unemployment orpension pay.

Autonomous spending is the level of spending which does not depends on the level of income. It is a…

Question: How can there be "Autonomous Spending" even when a person has zero income? O a) All of the above are correct. b) People need to consume at least a minimum to stay alive. O c) People need a certain level of consumption even if they do not have income. People spend money from their savings, borrowing or from unemployment or O d) pension pay.

Question: How can there be "Autonomous Spending" even when a person has zero income? O a) All of the above are correct. b) People need to consume at least a minimum to stay alive. O c) People need a certain level of consumption even if they do not have income. People spend money from their savings, borrowing or from unemployment or O d) pension pay.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 9RQ: If people do not have a complete mental picture of total utility for every level of consumption, how...

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