When Tyson's Income Was $50,000 Per Year, His Consumption Was

question 34

Multiple Choice

When Tyson's income was $50,000 per year, his consumption was $47,500, and his saving was $2,500. Tyson recently got a $5,000 raise. He raised his consumption to $51,500 and his saving to $3,500. Tyson's marginal propensity to consume is

• A) 0.05.
• B) 0.50.
• C) 0.80.
• D) 0.95.

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