(Table: Consumption and Savings) Based on the Table, the Marginal

question 228

Multiple Choice

(Table: Consumption and Savings) Based on the table, the marginal propensity to consume is _____ and the average propensity to consume _____.

• A) 0.5; varies with the level of income
• B) $5,000; is $5,000
• C) $10,000; is $35,000
• D) 2; varies with the level of income

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Definitions:

Explicit Memory

Memory of facts and experiences that one can consciously know and “declare.” (Also called declarative memory.)

Iconic Memory

A type of visual sensory memory that holds a brief photographic image of a scene that has just been observed, for a very short period.

Sensory

Related to or involving the organs or processes responsible for receiving and interpreting stimuli from the outside world.

Chess Masters

High-level chess players who have attained a significant level of expertise and recognition in the game of chess.