At an income of $100,000, I spent $90,000 on consumer goods. When my income rose to $200,000, I spent $160,000 on consumer goods. My marginal propensity to consume is:
At an income of $100,000, I spent $90,000 on consumer goods. When my income rose to $200,000, I spent $160,000 on consumer goods. My marginal propensity to consume is:
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter10: Keynesian Macroeconomics And Economic Instability: A Critique Of The Self Regulating Economy
Section: Chapter Questions
Problem 8QP
Related questions
Question
Practice Pack
At an income of $100,000, I spent $90,000 on consumer goods. When my income rose to $200,000, I spent $160,000 on consumer goods. My marginal propensity to consume is:
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Includes step-by-step video
Trending now
This is a popular solution!
Learn your way
Includes step-by-step video
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning