Use the Following to Answer Questions

question 75

Multiple Choice

Use the following to answer questions
Exhibit: Income and Consumption

-Let real GDP =Y = Y_d, and the consumption function is C = $1,000 + .06Y.
What is the value of autonomous consumption (A)
And what is the marginal propensity to consume (MPC)
?

• A)A = $600; MPC = 0.4
• B)A = $1,000; MPC = 0.6
• C)A = $1,600; MPC = 2.5
• D)A = $2,500; MPC = 0.6

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Definitions:

Specific Examples

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