If Your MPS Is 0.60 That Means That

question 116

Multiple Choice

If your MPS is 0.60 that means that:

• A) for every dollar increase in your disposable income, consumption will decrease by 60 cents.
• B) for every dollar decrease in your disposable income, consumption will increase by 60 cents.
• C) for every dollar increase in your disposable income, consumption will increase by 60 cents.
• D) for every dollar increase in your disposable income, consumption will remain unchanged.

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Definitions:

Monetary Judgement

A legal determination requiring a party to pay a specified sum of money to another.

Express Repudiation

The explicit rejection or refusal to fulfill a duty or obligation set forth in a contract.

Similar Bicycle

A bike that shares likeness or features with another bicycle, often in terms of design, functionality, or brand.

Market Price

The current price at which an asset or service can be bought or sold in the open market.