Author Question: What is the marginal propensity to consume for the economy described in Scenario 10.1? a. 0.45 b. ... (Read 87 times)

LCritchfi · **on:** Jun 30, 2018

What is the marginal propensity to consume for the economy described in Scenario 10.1?
a. 0.45
b. 0.85
c. 0.65
d. 0.35
e. Cannot be determined

Question 2

The law of demand asserts that:
a. output prices are more important than input prices.
b. when people want a good badly enough they will find a way to pay for it.
c. people want to buy more of goods that are priced very high because of their prestige.
d. the quantity of a good that people will buy is inversely related to the product's price.