In the Consumption Function: C = a + B(Y -

question 2

Multiple Choice

In the consumption function: C = a + b(Y - NT) , the term b represents the

• A)intercept of the consumption function
• B)level of taxation
• C)level of net taxation
• D)level of income
• E)marginal propensity to consume

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Definitions:

MP

Stands for "Member of Parliament," but in a logical context, it refers to a deductive pattern of reasoning where a specific conclusion is inferred from a general rule and a specific case.

Conj

An abbreviation for "Conjunction," a logical operator that connects two conditions or propositions where both must be true.

Inference Forms

Patterns of reasoning where specific statements lead logically to a conclusion.

MP

In logic, MP refers to Modus Ponens, a form of argument that if a conditional statement ('If P then Q') is accepted, and P is affirmed, then Q must also be affirmed.