Which of the following statements about consumption is correct? (1) The level of autonomous consumption determines the position of the consumption function; (2) The marginal propensity to consume determines the position of the consumption function; (3) The level of autonomous consumption determines the slope of the consumption function; (4) The level of income determines the slope of the consumption function.

Which of the following statements about consumption is correct? (1) The level of autonomous consumption determines the position of the consumption function; (2) The marginal propensity to consume determines the position of the consumption function; (3) The level of autonomous consumption determines the slope of the consumption function; (4) The level of income determines the slope of the consumption function.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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