the two parts of the keynesian consumption function are consumption that depends on and consumption that depends on a. money; wealth b. planned spending, unplanned spending c. disposable income; factors other than disposable income d. real income; nominal income

The fact that marginal propensity to consume (MPC) is larger than 0 means that  a. Consumption will decrease following a decrease in current income  b. Consumption will increase following a decrease current income  c. Consumption will increase following a decrease in future income  s. Consumption will decrease following as increase in current income

Which of the following correctly describes how a decrease in the price level affects consumption spending? Select one: a. A decrease in the price level raises real wealth, which causes consumption to increase. b. A decrease in the price level decreases the amount of money a household needs to buy goods and so raises the interest rate, which causes consumption to increase. c. A decrease in the price level increases the amount of money a household needs to buy goods and so raises the interest rate, which causes consumption to increase. d. A decrease in the price level lowers real wealth, which causes consumption to decrease.

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