Multiple Choice
In a private closed economy, national income is $4.5 trillion and saving equals $6.4 billion. Based on these data, the marginal propensity to consume
A) decreases as income increases.
B) is greater than the marginal propensity to save.
C) is less than the average propensity to consume.
D) cannot be calculated from the data given.
Correct Answer:
Verified
Correct Answer:
Verified
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