Question
19. If Carolyn's consumption rises by $3,000 as her income increases from $26,000 to $30,000 per year, her marginal propensity to consume is: Group of
19. If Carolyn's consumption rises by $3,000 as her income increases from $26,000 to $30,000 per year, her marginal propensity to consume is:
Group of answer choices
a. 0.70.
b. 0.75.
c. 0.90.
d. 1.20.
e. Impossible to determine from the data.
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Macroeconomics Principles and Applications
Authors: Robert E. Hall, Marc Lieberman
6th edition
1111822352, 1111822354, 9781133708742 , 978-1111822354
