Budget share of leisure, Suppose that real consumer spending is 50, and spending on food,, Macroeconomics

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Budget share of leisure

Suppose that real consumer spending is 50, and spending on food, transport and leisure is 25, 10 and 5 respectively. Suppose after 10 years real consumer spending doubles to 100. How much do you believe will be the budget share of leisure?

A. 5%.

B. 10%.

C. Less than 10%.

D. More than 10%.

Why?

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Macroeconomics: Budget share of leisure

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Macroeconomics: Budget share of leisure

Reference No:- TGS061456

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Macroeconomics: Budget share of leisure

Reference No:- TGS061456

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