277. In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is .4. If income is $20,000, then consumption is: 278. What is a brief definition of economics? What are the conditions that give rise to this definition? 279. What are the key economic concepts that pertain to the individual? 280. What are the key economic concepts that pertain to interactions among individuals?
277. In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is .4. If income is $20,000, then consumption is: 278. What is a brief definition of economics? What are the conditions that give rise to this definition? 279. What are the key economic concepts that pertain to the individual? 280. What are the key economic concepts that pertain to interactions among individuals?