Refer to the data above. At the $320 billion level of disposable income, the average propensity to save is:
The disposable income (DI) and consumption (C) schedules are for a private, closed
economy. All figures are in billions of dollars.
A. .015
B. .075
C. .335
D. .925
B. .075
You might also like to view...
The short-run Phillips curve is the relation between inflation and unemployment that holds for a given natural rate of unemployment and a
A) given rate of inflation. B) given expected rate of inflation. C) given level of unemployment. D) given expected level of unemployment.
The perfectly competitive market structure results in economic efficiency because:
a. price is equal to marginal revenue in the short run. b. firms are producing at the minimum point of the average-total-cost curve in the short run. c. a normal profit is being earned in the long run. d. a normal profit is being earned in the short run. e. in the long-run, price is equal to marginal cost and minimum average-total-cost.