If the consumption function is expressed as C = a + mpc × YD, then "mpc" represents
A) autonomous consumer expenditure.
B) the marginal propensity to consume.
C) the expenditure multiplier.
D) disposable income.
B
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Which of the following is NOT a result of a permanent fall in foreign demand on one country's exports under floating exchange rate?
A) The DD curve shifts to the left due to reduction of aggregate demand. B) The AA curve shifts upwards due to the increased expected long-run exchange rate. C) a reduction in output by a smaller degree compared to temporary fall in demand D) depreciation in home country's currency E) a raised level of unemployment
By 1914 the American economy had transformed into an agricultural giant
Indicate whether the statement is true or false
According to Darity and Myers
A. black men are becoming increasingly marginal to our economy. B. the basic cause of poverty is welfare dependency. C. the best solution to poverty is the negative income tax. D. as our economy continues to expand, black poverty will decline.
Use the following general linear demand relation:Qd = 100 - 5P + 0.004 M - 5PR where P is the price of good X, M is income, and PR is the price of a related good, R.What is the demand function when M = $50,000 and PR = $10?
A. Qd = 100 - 5P B. Qd = 350 - 5P C. Qd = 300 - 5P D. Qd = 200 - 5P E. none of the above