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Stock of durable goods on hand:
If the economy has enjoyed an extended period of prosperity, consumers may find themselves well supplied with various durable goods, e.g. cars, televisions, etc. all worth years of service. Hence, for sometime, many households will be out of the market for such products with the result that consumers will be willing to spend less and save more at each level of disposable income.
The level of disposable income:
The level of income is the basic determinant of how much households will consume.As households` income increase consumption expenditure increases and vice versa.
What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
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please can you explainn what "down 0.1 percentage point on the quarter means"?
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Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man
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