Question

Real Disposable IncomePlanned Real Consumption
03,000
2,0004,400
4,0005,800
6,0007,200
8,0008,600
10,00010,000
12,00011,400
14,00012,800

Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the marginal propensity to consume?

A) 0

B) 0.3

C) 0.7

D) 1

Answer

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