Question
In the table, the marginal propensity to consume is ________ and the average propensity to consume ________. Income: Consumption Spending Saving 30,000 30,000 0 40,
In the table, the marginal propensity to consume is ________ and the average propensity to consume ________.
Income: Consumption Spending Saving
30,000 30,000 0
40, 000 35,000 0
50,000 40,000 10,000
A. 5,000; is 5,000
b. 10,000 is 35,000
c. 2; varies with the level of income
d. 0.5; varies with the level of income
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
