One can determine the amount of any level of total income that is consumed by:
A)multiplying total income by the slope of the consumption schedule.
B)multiplying total income by the APC.
C)subtracting the MPS from total income.
D)multiplying total income by the MPC.
Answer:B
One can determine the amount of any level of total income that is consumed by:
A)multiplying total income by the slope of the consumption schedule. B)multiplying total income by the APC. C)subtracting the MPS from total income. D)multiplying total income by the MPC.