question archive The table identifies income and consumption in a small country
The table identifies income and consumption in a small country
Subject:EconomicsPrice: Bought3
The table identifies income and consumption in a small country. Income (billions of $) 1,000 2,000 3,000 4,000 5,000 Consumption (billions of $) 950 1,700 2,450 3,200 3,950 Instructions: Round your answer to two decimal places. The marginal propensity to consume is: (Hint: For each additional $1000 in income, by how much does consumption increase? What percentage of that additional income is spent?]
