True/False
Suppose that the consumption function crosses the 45-degree line at a disposable income level of $800.Assume further that saving equals $200 when disposable income is $1, 300.This implies that the MPC must equal 0.6.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: Dissaving occurs when the consumption function lies
Q3: The average propensity to save (APS)is the
Q4: The figure given below shows the consumption
Q5: Which of the following will cause the
Q6: As disposable income rises:<br>A)consumption falls as a
Q8: In the table given below Y represent
Q9: The figure given below represents the saving
Q10: MPI refers to the percentage of additional
Q11: Which of the following is least likely
Q12: The table given below reports the consumption