If Brenda's MPC is 0.8 at an income of $20,000 and her income increases to $40,000 at the same time everyone else's income doubled, according to Duesenberry's relative income hypothesis, her MPC will
a. fall to 0.4
b. rise to 0.9
c. rise to 1.0
d. remain at 0.8
e. double
D
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Higher consumer prices caused by external forces would boost the wage costs of firms without any commensurate increase in the nominal demand for their products if
A) long-term contracts were in force. B) all labor contracts were one year in duration. C) there were no COLAs. D) there were full COLA protection.
Dewey earned a salary of $75,000 in 2001 and $95,000 in 2006 . The consumer price index was 177 in 2001 and 266 in 2006 . Dewey's 2006 salary in 2001 dollars is
a. $47,768.36. b. $63,214.29. c. $84,550.00. d. $142,768.36.
Every ____________ the U.S. government surveys ______________ of households to gather information about the number of Americans unemployed
A) month; millions B) week; millions C) week; thousands D) month; thousands
Advertising intended to induce a consumer to discover a previously unknown taste or preference is
A. persuasive advertising. B. direct advertising. C. mass marketing advertising. D. informational advertising.