Suppose two successive levels of disposable personal income are $16 and $21 billion, respectively, and the change in consumption spending between these two levels of disposable personal income is $2 billion, then the MPC will be equal to _____

A concert in a crowded auditorium is ________ in consumption

A) non-excludable and non-rival B) excludable but non-rival C) excludable and rival D) non-excludable but rival

Disinflation refers to

A) a rapid increase in the price level. B) a decrease in the price level. C) a reduction in the rate of inflation. D) an increase in the rate of inflation.