Equations for C,I,G,and NX Are Given Below

question 247

Multiple Choice

Equations for C,I,G,and NX are given below.If the equilibrium level of GDP is $32,000,what is the marginal propensity to consume? C = 5,000 + (MPC) Y
I = 1,500
G = 2,000
NX = -500

• A)0.67
• B)0.75
• C)0.8
• D)0.9

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Definitions:

Autonomy

The concept of being self-directed and free to make one's own decisions, leading to a sense of independence.

Shame and Doubt

A stage in Erik Erikson's theory of psychosocial development, where toddlers learn to exercise will and do things for themselves, or they doubt their abilities.

Inferiority

A feeling of lower status or quality compared to others, often associated with lack of self-esteem or confidence.

Formal Operational Stage

The fourth and final stage of Jean Piaget's theory of cognitive development, occurring from age 12 and up, where individuals develop the ability to think abstractly, reason logically, and understand hypothetical concepts.