The marginal propensity to consume (MPC) is equal to
A) 1 + MPS. B) 1 - MPS. C) MPS + 1. D) MPS - 1.
B
Economics
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When an increase in aggregate demand exceeds the increase in aggregate supply
A) real GDP decreases while nominal GDP increases. B) the price level falls while real GDP increases. C) nominal GDP decreases and real GDP decreases. D) the economy will experience inflation as the price level rises.
Economics
In the above figure, if the price is P1, the firm is
A) making an economic profit. B) incurring an economic loss. C) making zero economic profit. D) earning enough revenue to pay all of its opportunity costs.
Economics