Students in Dr

question 13

Multiple Choice

Students in Dr. Friedlander's class got the following scores on their first test: 75, 77, 87, 63, 93, 77, 72, 80, 57, 68, 76. What is the mode?

• A) 77
• B) 75
• C) 36
• D) 76

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Definitions:

Disposable Income

Available monetary resources for households post-income tax for spending and saving purposes.

Consumption

The use of goods and services by households. It is a primary component of economic activity and a key indicator of economic health.

Dissaving

Dissaving occurs when expenditures exceed income, leading to a depletion of savings or the accumulation of debt.

APC

The abbreviation for Average Propensity to Consume, which is the fraction of income that is spent on consumption rather than saved.