Marginal propensity to consume
Not what you're looking for?
A country's disposable personal income in 2004 was $100 billion, and $80 billion of that was used as consumption.
What is the country's marginal propensity to consume (mpc), which is expressed by the ratio of consumption to income?
Purchase this Solution
Solution Summary
Response provides the steps to compute the Marginal propensity to consume
Solution Preview
A country's disposable personal income in 2004 was $100 billion, and ...
Purchase this Solution
Free BrainMass Quizzes
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.