The Consumption Function of the U

question 199

Short Answer

The consumption function of the U.S. economy from 1929 to 1941 is , where C(x) is the personal consumption expenditure and is the personal income, both measured in billions of dollars. Find the rate of change of consumption with respect to income, . This quantity is called the marginal propensity to consume. Round the answer to three decimal places, if necessary. __________

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The obligation of individuals, organizations, or businesses to act for the benefit of society at large.

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