Your friend just got an unexpected $1,000 tax refund. They plan to put $800 toward paying off
Question:
Your friend just got an unexpected $1,000 tax refund. They plan to put $800 toward paying off credit card debt, put
$100 toward their student loans, and use the remaining
$100 to purchase a new grill for their deck. What is your friend’s marginal propensity to consume? By how much have they increased their net wealth?
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Related Book For 
Principles Of Macroeconomics
ISBN: 9781982166649
1st Canadian Edition
Authors: Betsey Stevenson, Justin Wolfers, Philip Oreopoulos, Kevin Milligan
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