Goods whose income elasticities are negative are called

Charting observations on a semi-logarithmic graph will help the analyst to ascertain whether

A) absolute changes from period to period are constant. B) whether percentage changes from period to period are constant. C) whether percentage changes from period to period are declining. D) Both B and C

Suppose an increase in disposable income from $3 trillion to $3.2 trillion increases consumption from $2.5 trillion to $2.6 trillion. The marginal propensity to consume is _____

a. 0.1 b. 0.2 c. 0.5 d. 0.8 e. 0.9