Mathematically, the marginal propensity to consume is
a. consumption divided by income.
b. the change in consumption divided by the change in income.
c. income divided by consumption.
d. the change in income divided by the change in consumption.
B
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One major similarity between perfect competition and monopolistic competition is that:
a. the firms earn above normal profits in the long run. b. the firms are price makers. c. the firms produce identical products. d. the firms just break even in the long run. e. entry of firms is barred in the long run.
Disparate treatment refers to:
a. the treatment of individuals on the basis of their race, sex, color, religion, or national origin. b. the treatment of individual workers on the basis of their opportunity costs. c. the treatment of individual workers on the basis of their marginal productivities. d. discriminatory treatment of the individuals due to lack of correct information. e. the discriminatory treatment of firms by the trade unions.