QUESTION 4 Which of the following statements are true (there may be more than one correct answer): O a. Consumption expenditures of an average U.S. household go up from mid-20s to mid-40s and then go down O b. Data evidence suggests that people adjust their consumption in response to income shocks O c. Data evidence suggests that people adjust their consumption in response to wealth shocks but their marginal propensity to consume out of wealth is lower

Because of scarcity, people are more likely to do what?  squander resources increase the profit margin use resources wisely The MOST important factor affecting consumer spending is O the level of current consumer debt O the amount of assets held by consumers such as homes, cars, stocks, or bonds the expectations of consumers of what the economy will be in the future © the level of current consumer income

Question 35 Suppose real estate analysts expect that 100,000 homes will be needed in a particular community by 2014. If the current number of homes in the community is only 50,000, we can expect to see a significant increase in the demand for investment. True O False

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