Average propensity to consume (APC) equals
A. change in real disposable income divided by change in planned consumption.
B. change in planned consumption divided by change in real disposable income.
C. real disposable income divided by planned consumption.
D. planned consumption divided by real disposable income.
Answer: D
You might also like to view...
Scarcity
A. necessitates choice among consumer goods. B. of income renders purchase decisions interdependent. C. affects all consumer decisions. D. may involve forgoing the pleasure of one good in order to enjoy another. E. All of the above answers are correct.
Which of the following directs the buying and selling of U.S. government securities?
a. Board of Governors. b. Federal Reserve Banks. c. Federal Open Market Committee. d. Federal Advisory Council. e. Member banks.
Which political philosophy believes that the government should equalize the incomes of all members of society?
a. Utilitarianism. b. Liberalism. c. Libertarianism. d. None of the above is correct.
Yesterday the futures price for corn for March delivery in Chicago was $7.40/bushel and today it is $7.30/bu. Yesterday the local cash price was $6.87/bushel. Yesterday the local basis was
A. 57 cents. B. -53 cents. C. -43 cents. D. 53 cents.