The MPC can be defined as that fraction of a:
A. change in income that is not spent.
B. change in income that is spent.
C. given total income that is not consumed.
D. given total income that is consumed.
B. change in income that is spent.
Economics
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Cross elasticity is higher the more perfect two goods are as substitutes
Indicate whether the statement is true or false
Economics
Refer to the graph above. If aggregate supply shifts from AS 1 to AS 2, then the price level will:
Increase and real domestic output will increase Decrease and real domestic output will increase Increase and real domestic output will decrease Decrease and real domestic output will decrease
Economics