Multiple Choice
How is the MPC defined?
A) It is the fraction of a change in income which is not spent.
B) It is the fraction of a change in consumption that results from a change in income.
C) It is the fraction of total income which is not consumed.
D) It is the fraction of total income which is consumed.
E) It is the fraction of a change in the level of income that results from a change in consumption.
Correct Answer:
Verified
Correct Answer:
Verified
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