If the Marginal Propensity to Consume Declines, Then

question 75

Multiple Choice

If the marginal propensity to consume declines, then

• A)for any given change in income, there will be a smaller change in saving.
• B)nothing will happen to the consumption function.
• C)for any given change in income, there will be a larger change in consumption.
• D)for any given change in consumption, there will be a smaller change in income.
• E)for any given change in income, there will be a smaller change in consumption.

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Definitions:

Compounded Annually

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, applied once per year.

Ordinary General Annuity

An annuity in which payments are made at the end of each period, such as a year, month, or quarter.

Future Value

The value of an investment at a specific date in the future, considering factors such as interest rates and compounding.

Accurate To The Cent

Describing a level of precision in financial calculations where figures are exact to the smallest denomination of currency, usually a cent.