Question : When income level is zero, the consumption is ___________.
Option 1: Positive
Option 2: Negative
Option 3: Zero
Option 4: None of the above.
Correct Answer: Positive
Solution : There is always some minimum level of consumption even when the income is zero. It happens because people need certain basic goods and services to sustain themselves. Hence, Option A is correct.
Question : Net earnings is ___, when receipts from exports are less than payments for imports.
Question : Net earnings is ___, when receipts from exports are more than payments for imports.
Question : Net earnings is ___, when receipts from exports are equal to payments for imports.
Question : Aggregate supply = ________________
Question : Consumption at zero level of income is called ____________________.
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