Refer to the data above. The marginal propensity to save in this economy is:
The disposable income (DI) and consumption (C) schedules are for a private, closed
economy. All figures are in billions of dollars.
A. .1
B. .72
C. .8
D. .9
A. .1
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The quantity of labor demanded by a firm depends upon
A) the nominal wage rate not the real wage rate. B) the real wage rate not the nominal wage rate. C) both the real wage rate and the nominal wage rate. D) neither the real wage rate nor the nominal wage rate. E) either the real wage rate or the nominal wage rate, depending whether the price level is increasing or decreasing.
The cross elasticity of demand for good A with respect to good B is 0.2 . A 10 percent change in the price of good B will lead to a ____ percent change in the quantity of good A demanded. Goods A and B are _______
A. 2; substitutes B. 0.5; complements C. ?2; complements D. ?0.5; substitutes