If Your Income Increases from $40,000 to $48,000 and Your

question 176

Multiple Choice

If your income increases from $40,000 to $48,000 and your consumption increases from $35,000 to $39,000, your marginal propensity to consume (MPC) is:

• A) 0.20.
• B) 0.40.
• C) 0.50.
• D) 0.80.
• E) 1.00.

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Definitions:

Codominance

A genetic scenario where two alleles for a specific trait are equally expressed without blending in the phenotype of heterozygotes.

Dominance

The priority of one allele or gene over others in affecting the phenotype of an organism, or a social hierarchy where individuals of higher status have more influence.

Alleles

Variants of a gene found at the same place on a chromosome that determine distinct traits that can be passed from parents to offspring.

Recessive Alleles

Gene variants that can be masked by dominant alleles and are expressed only when two copies are present.