The Average Propensity to Consume Is

question 181

Multiple Choice

The average propensity to consume is

• A) always stable.
• B) equal to consumption divided by income.
• C) equal to income divided by consumption.
• D) the increase in consumption derived from an increase in income.

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Definitions:

Private Health Insurance

Health insurance plans provided by private entities rather than the government, offering coverage for health care expenses to individuals and families.

Elective Surgical Procedure

A non-emergency surgery chosen by the patient, often for improvement rather than necessity.

Equilibrium Price

Equilibrium Price is the market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Deductible

The dollar sum of (for example, health care) costs that an insured individual must pay before the insurer begins to pay.