Use the following data to answer the next question. The disposable income (DI) and consumption (C) schedules are for a private, closed economy (an economy with no government and no international trade). All figures are in billions of dollars.Disposable IncomeConsumption$10,000$12,00018,00018,00026,00024,00034,00030,00042,00036,00050,00042,000The marginal propensity to consume is
A. 0.80.
B. 0.20.
C. 0.75.
D. 0.25.
Answer: C
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Property rights can be defined and enforced
a. only by the government b. only by ethical norms c. by the government and by ethical norms d. only through constant renegotiation e. by government, by informal social actions, and by ethical norms
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The market supply curve shows how the total quantity supplied of a good varies as input prices vary, holding constant all the other factors that influence producers' decisions about how much to sell
a. True b. False Indicate whether the statement is true or false