Following Is Consumption Schedules for Three Private Closed Economies

question 164

Multiple Choice

Following is consumption schedules for three private closed economies.DI signifies disposable income and C represents consumption expenditures.All figures are in billions of dollars. Refer to the above data.At an income level of $40 billion, the average propensity to consume:

• A)is highest in economy (1).
• B)is highest in economy (2).
• C)is highest in economy (3).
• D)cannot be determined from the data given.

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Definitions:

Expertise

The skill, knowledge, or proficiency acquired through experience or education in a specific field.

Social Forces

The societal influences that affect the actions, behaviors, and attitudes of individuals or groups within a culture or organization.

Technological Developments

Advances in technology that improve processes, create new products, or enhance the way tasks are performed.

Nutritious Items

Foods or substances providing essential nutrients necessary to maintain health and growth.