Linda earned an income of $3,000 per month which has now increased to $3,500 per month. She saves 10 percent and spends the remainder on food, lodging and other expenses. So far, she has managed to save $20,000. What is her disposable income after the increase?
A) $20,000
B) $3,500
C) $2,700
D) $3,150
E) $450
Correct Answer:
Verified
Q2: Table 9.1 Q3: Linda earns an income of $3,000 per Q4: If the marginal propensity to consume (MPC) Q5: Table 9.1 Q6: Linda earned an income of $3,000 per Q8: Which of the following is true of Q9: Historically,consumption spending in the United States has Q10: The relationship in the economy between consumption Q11: The marginal propensity to consume (MPC) is Q15: The consumption function assumes that:
A)only disposable income
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