Assume the Consumption Schedule for a Private Closed Economy Is

question 144

Multiple Choice

Assume the consumption schedule for a private closed economy is C = 40 + 0.75Y, where C is consumption and Y is gross domestic product.The multiplier for this economy:

• A)is 3.
• B)is 4.
• C)is 5.
• D)cannot be determined from the information given.

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Definitions:

Personal Relationship

A connection between individuals based on emotional or social bonds, often characterized by mutual respect, understanding, and communication.

Personal Selling

A direct marketing approach where individual salespeople reach out to potential customers through face-to-face meetings, calls, or personalized messages.

Trade Sales Promotion

Marketing activities and incentives aimed at intermediaries such as wholesalers and retailers to encourage the stocking and promotion of a company’s products.

Retailers

Businesses that sell goods or services to consumers for personal or household use, acting as a final link between producers and consumers.