Multiple Choice
When the aggregate consumption function is defined as C = C? + cYD, then
A) the mpc increases with higher levels of disposable income
B) the mpc is constant at all levels of disposable income
C) the apc is constant at all levels of disposable income
D) the apc increases with higher levels of disposable income
E) the expenditure multiplier is less than one
Correct Answer:
Verified
Correct Answer:
Verified
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