Solved

Linda Earned an Income of $3,000 Per Month Which Has

Question 192

Multiple Choice

Linda earned an income of $3,000 per month which has now increased to $3,500 per month. She saves 10 percent and spends the remainder on food, lodging, and other expenses. So far, she has managed to save $20,000. What is her consumption after the increase?


A) $20,000
B) $3,500
C) $2,700
D) $3,150
E) $450

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q51: An aggregate demand curve can be drawn

Q70: The aggregate demand curve of an economy

Q88: The consumption function relates consumption spending to

Q121: Expectations that the price level will decrease

Q123: An upward shift of the consumption function

Q146: The smaller the marginal propensity to save,other

Q183: Which of the following is correct if

Q190: The fraction of a change in income

Q193: Exhibit 9.1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1006/.jpg" alt="Exhibit 9.1

Q197: An increase in the market interest rate