What Are the Marginal Propensity to Consume and Level of Autonomous

question 33

Multiple Choice

What are the marginal propensity to consume and level of autonomous consumption spending for a consumption function of the following form: C = 1,200 + 0.5DI?

• A) The marginal propensity to consume is 0.5;autonomous consumption spending is $0.50.
• B) The marginal propensity to consume is 0.5;autonomous consumption spending is $1,200.
• C) The marginal propensity to consume is 1,200;autonomous consumption spending is $0.50.
• D) The marginal propensity to consume is 1,200;autonomous consumption spending is $600.
• E) There is insufficient information to answer this.

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Definitions:

Total Revenues

The total sum of money a company earns from selling goods or providing services over a specified time frame.

Total Costs

The sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.

Energy Crisis

A condition characterized by a significant shortage of energy resources, leading to escalated energy prices and potentially impacting economic and social activities.

Gasoline Consumption

The total amount or volume of gasoline used by consumers or industries within a given period.