Answer the questions on the basis of the information given in the following diagram:GuidelineConsumption 4Consumptionfunction36054360National income1. The Marginal Propensity to Consume (MPC) equals:А. 0.70В. 0.75C. 0.80D. 0.85 360National income1. The Marginal Propensity to Consume (MPC) equals:А. 0.70В. 0.75C. 0.80D. 0.852. To have savings of JD 54, The level of national income must be:A. 660B. 720С. 780D. 840A Moving to another question will save this response.

Ques 1) Given : C' = 54 C = C' + b Y Where C' = autonomous consumption b = MPC

Answer the questions on the basis of the information given in the following diagram: Guideline Consumption 4 Consumption function 360 54 National income 360 1. The Marginal Propensity to Consume (MPC) equals: A. 0.70 B. 0.75 C. 0.80 D. 0.85

Answer the questions on the basis of the information given in the following diagram: Guideline Consumption 4 Consumption function 360 54 National income 360 1. The Marginal Propensity to Consume (MPC) equals: A. 0.70 B. 0.75 C. 0.80 D. 0.85

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

360
National income
1. The Marginal Propensity to Consume (MPC) equals:
А. 0.70
В. 0.75
C. 0.80
D. 0.85
2. To have savings of JD 54, The level of national income must be:
A. 660
B. 720
С. 780
D. 840
A Moving to another question will save this response.

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