If a Household's Income Rises from $46,000 to $46,700 and Its

question 110

Multiple Choice

If a household's income rises from $46,000 to $46,700 and its consumption spending rises from $35,800 to $36,400,then its:

• A)marginal propensity to consume is 0.86.
• B)marginal propensity to consume is 0.99.
• C)marginal propensity to consume is 0.98.
• D)marginal propensity to save is 0.01.
• E)marginal propensity to save is 0.86.

Differentiate between terms related to power dynamics, such as legitimizing myths and other explanations.

Understand the psychological effects of deindividuation in group settings.

Recognize how power influences leaders, particularly in terms of perceived choice and decision-making.

Debunk misconceptions about marriage systems and their structures.

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Definitions:

Pecking Order

A social hierarchy among a group, where individuals or entities are ranked relative to each other.

Luxury-Goods Spending

The expenditure on products and services that are considered high-quality, prestigious, and often more expensive than necessary.

Consumer Optimism

The tendency of consumers to hold positive expectations about the overall economy or their personal financial situation.

Tightwad

Refers to a person who is extremely unwilling to spend money; often perceived negatively.