Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.If consumption spending increases from $358 to $367 billion when income increases from $412 to $427 billion, the marginal propensity to consume is? A)0.2 B)0.4
1.If consumption spending increases from $358 to $367 billion when income increases from $412 to $427 billion, the marginal propensity to consume is?
A)0.2
B)0.4
C)0.6
D)0.8
Which is the correct answer
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started