When Jack's Income Increases by $1,000,he Spends an Additional $850

question 167

True/False

When Jack's income increases by $1,000,he spends an additional $850 dollars.This implies that his marginal propensity to save is 0.85.

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Definitions:

Wetlands

Areas of land where saturation with water is the dominant factor determining the nature of soil development and the types of plant and animal communities living in the soil and on its surface.

Clean Water Act

A United States federal law that regulates the discharge of pollutants into the nation's surface waters, including lakes, rivers, streams, and coastal areas.

Economic Benefits

Financial gains or advantages received as a result of specific actions, investments, or decisions.

Noncompliance

Failure or refusal to act in accordance with a law, regulation, or set of standards.