Which of the following is not another way of describing the marginal propensity to consume?
a. MPC
b. The slope of the consumption function
c. The change in real consumption spending divided by the change in real disposable income
d. The amount by which real consumption spending rises when real disposable income increases by one dollar
e. Autonomous consumption spending
E
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If the cross elasticity of demand between goods X and Y is positive and between goods X and Z is negative, then X and Y are ________ and X and Z are ________
A) price inelastic; complements B) complements; substitutes C) substitutes; complements D) price inelastic; income elastic
In the last two decades of the 20th century, developing countries as a whole have
a. grown more slowly than developed countries b. grown a bit more rapidly than developed countries c. grown much more rapidly than developed countries d. made very little progress e. none of the above