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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 12
John Maynard Keynes's proposition that a dollar increase in disposable income will increase consumption, but by less than the increase in disposable income, implies a marginal propensity to consume that is
A) greater than or equal to one.
B) equal to one.
C) less than one, but greater than zero.
D) negative.
A) greater than or equal to one.
B) equal to one.
C) less than one, but greater than zero.
D) negative.
Explanation
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Verified
As the denominator increases a...
Economics for Today 9th Edition by Irvin Tucker
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