For all levels of income to the left of the intersection of the 45-degree line and the consumption schedule, the APC is:
A)greater than 100 percent.
B. less than the APS.
C. equal to the MPC.
D. equal to 100 percent.
Answer:A
For all levels of income to the left of the intersection of the 45-degree line and the consumption schedule, the APC is:
A)greater than 100 percent. B. less than the APS. C. equal to the MPC. D. equal to 100 percent.