If Your Income Increases from $30,000 to $40,000 and Your

question 60

Multiple Choice

If your income increases from $30,000 to $40,000 and your savings increases from $2,000 to $4,000, your marginal propensity to save (MPS) is:

• A) 0.2.
• B) 0.4.
• C) 0.5.
• D) 0.8.

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Definitions:

Classified Ads

Short advertisements placed in a newspaper, magazine, or online, usually categorized by topic, such as jobs, real estate, and services.

Flat Fee

A pricing structure where a single fixed rate is charged for a service, regardless of usage or time required.

Résumés

Written compilations of a person's education, work experience, qualifications, and accomplishments, used as part of a job application.

Part-Time

Employment with fewer hours per week compared to full-time positions, offering limited work time and often fewer benefits.