Multiple Choice
The average propensity to consume refers to:
A) the dollars of income spent on luxury goods.
B) the dollars of income saved by an individual.
C) expenditures on the basic necessities of life.
D) the percentage of income spent for current consumption.
E) the fact that people with higher propensity to consume earn lower income.
Correct Answer:
Verified
Correct Answer:
Verified
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