Assume that the level of autonomous consumption in an economy equals 600, the level of planned investment = 500. Calculate the marginal propensity to consume, if the level of income equals 3,200? Provide answer to one decimal point.

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter9: Aggregate Expenditures
Section: Chapter Questions
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Assume that the level of autonomous consumption in an economy equals 600, the level of planned investment =
500.
Calculate the marginal propensity to consume, if the level of income equals 3,200?
Provide answer to one decimal point.
Transcribed Image Text:Assume that the level of autonomous consumption in an economy equals 600, the level of planned investment = 500. Calculate the marginal propensity to consume, if the level of income equals 3,200? Provide answer to one decimal point.
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