When We Graph Consumption as a Function of National Income

question 158

Multiple Choice

When we graph consumption as a function of national income rather than as a function of ________,the slope of this consumption function is the ________.

• A)disposable income; MPC
• B)personal income; MPC
• C)disposable income; MPS
• D)personal income; MPS

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Definitions:

Coalbrookdale Bridge

The first cast-iron arch bridge, opened in 1781 in Shropshire, England, marking a significant point in the development of engineering and the use of iron in construction.

Cast Iron

A type of iron that is highly carbonized, making it notably hard and brittle, used extensively in construction and cookware.

Severn River

A major river in the United Kingdom, notable for being the longest in Great Britain, flowing through Wales and England.

Grand Tour

A traditional trip through Europe undertaken by mainly upper-class European young men of means, to finish their education in the 17th to 19th centuries.