A Set of Families That Enjoy Equal or Nearly Equal

question 1

Multiple Choice

A set of families that enjoy equal or nearly equal prestige according to a system of evaluation is called a(n) :

• A)caste.
• B)class.
• C)age grade.
• D)age set.
• E)kindred.

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Definitions:

APC

The fraction of income that is spent on consuming goods and services is known as the Average Propensity to Consume.

APS

Stands for Aggregate Planning Strategies, techniques used in business to match supply and demand by adjusting production rates, labor levels, and inventory.

MPC

The marginal propensity to consume, which is the proportion of any additional income that is spent on consumption rather than being saved.

MPS

Marginal Propensity to Save, which measures the proportion of additional income that households save rather than spend on consumption.