The marginal propensity to consume is
A. consumption times income.
B. the fraction of a change in income that is consumed or spent.
C. the amount of consumption at a specific level of income.
D. a change in saving divided by a change in consumption.
Answer: B
Economics
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According to your textbook authors, what explains the dramatic decline in the U.S. poverty rate since the 1960s?
A) The power of labor unions B) Steady economic growth C) Increases in the minimum wage D) The growth of in-kind government transfers E) The growth of government welfare assistance paid in money
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In the above figure, which part corresponds to a fall in the money wage rate?
A) Figure A B) Figure B C) Figure C D) Figure D
Economics