The consumption schedule is such that
A) both the APC and the MPC increase as income rises.
B) the APC is constant and the MPC declines as income rises.
C) the MPC is constant and the APC declines as income rises.
D) the MPC and the APC must be equal at all levels of income.
Correct Answer:
Verified
Q1: The consumption schedule shows
A) that the MPC
Q2: The most important determinant of consumption and
Q4: With a marginal propensity to save of
Q5: If Carol's disposable income increases from $1,200
Q6: As disposable income goes up, the
A) average
Q7: A decline in disposable income
A) increases consumption
Q8: The 45-degree line on a graph relating
Q9: The consumption schedule is drawn on the
Q10: The consumption schedule shows
A) a direct relationship
Q11: The consumption schedule directly relates
A) consumption to
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