The fraction of each added dollar of income that is used for consumption is called the:
a. average propensity to consumer (APC).
b. autonomous consumption rate (ACR).
c. marginal consumption propensity (MCP).
d. marginal propensity to consume (MPC).
d
Economics
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Refer to Table 9-11. Prior to trade, what was the opportunity cost to produce 1 hat in Belize?
A) 1/2 of a clock B) 2/3 of a clock C) 1.5 clocks D) 2 clocks
Economics
Which of the following is true about the game in Scenario 13.2?
A) ABC's dominant strategy is to offer a rebate. B) ABC's dominant strategy is not offer a rebate. C) XYZ's dominant strategy is to offer a rebate. D) XYZ's dominant strategy is not offer a rebate. E) Both ABC and XYZ offer a rebate as a dominant strategy.
Economics