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Author Question: The fraction of each added dollar of income that is used for consumption is called the: a. average ... (Read 14 times)

sarasara

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on: Jun 30, 2018
The fraction of each added dollar of income that is used for consumption is called the:
 a. average propensity to consumer (APC).
  b. autonomous consumption rate (ACR).
  c. marginal consumption propensity (MCP).
  d. marginal propensity to consume (MPC).

Question 2

Since classical economists believe that both V and Q are constants for an economy in short-run equilibrium, the equation of exchange becomes a theory in which:
 a. the quantity of money explains prices.
  b. the quantity of money explains velocity.
  c. the quantity of money explains real GDP.
  d. changes in M cause changes in V.
  e. prices are never flexible


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Loise Hard

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


sarasara

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

nguyenhoanhat

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Reply 3 on: Yesterday
Excellent

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