Suppose a Certain Economy's Consumption Function Is , Where

question 177

Short Answer

Suppose a certain economy's consumption function is , where and are measured in billions of dollars. Find the marginal propensity to consume (the rate of change of consumption with respect to income, ) when .
Round the answer to two decimal places, if necessary.
$__________ billion/billion dollars

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Definitions:

Intellectual Intelligence (IQ)

A measure of a person's cognitive abilities, including problem-solving, reasoning, and understanding complex ideas.

Empirical Research

The collection and analysis of data through observation or experiment to test hypotheses or theories.

Bench Strength

The depth of competence and readiness of employees to fill new or vacated positions within an organization.

Demographic Changes

Alterations in the statistical characteristics of populations over time, such as age, race, gender, or income distribution, which can impact societal structures and organizational strategies.