Autonomous determinants of consumption expenditures are dependent on the level of current disposable income
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the marginal propensity to consume?
A) 0.7 B) 1 C) 0.3 D) 0
Economics
If a decrease in the price of a good decreases the total revenue, the demand for the good is
a. price elastic b. price inelastic c. income elastic d. income inelastic
Economics