According to the Keynesian-Cross Analysis, If MPC Stands for Marginal $\Delta$

question 66

Multiple Choice

According to the Keynesian-cross analysis, if MPC stands for marginal propensity to consume, then a rise in taxes of $\Delta$ T will:

• A) decrease equilibrium income by \(\Delta\)T.
• B) decrease equilibrium income by \(\Delta\)T/(1 - MPC).
• C) decrease equilibrium income by (\(\Delta\)T)(MPC)/(1 - MPC).
• D) not affect equilibrium income at all.

Develop skills in applying economic theory to real-world situations, such as analyzing the impact of price changes on demand.

Understand the concept of emancipation and its significance in family law.

Recognize the legal responsibilities parents have towards their children, including medical care and basic needs.

Identify the legal obligations owed to family members under family law.

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