Use the Table Below to Answer the Following Questions

question 74

Multiple Choice

Use the table below to answer the following questions.
Table 27.1.2

-Refer to Table 27.1.2. What is the value of the marginal propensity to consume?

• A)0.75
• B)0.25
• C)1.33
• D)0.34
• E)0.67

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Definitions:

Simple Events

A simple event is an outcome or event that cannot be further broken down into simpler components within the context of a probability experiment.

Experiment

A carefully controlled procedure undertaken to discover, test, or demonstrate a hypothesis or the effects of one variable on another.

Sample Space

The set of all possible outcomes of a probability experiment.

Tree Diagram

A graphical representation of all possible outcomes of a sequence of events, each branching out from the previous one.