Question : _____________________ is defined as ratio of change in consumption to change in total income
Option 1: Marginal propensity to consume
Option 2: Marginal propensity to save
Option 3: Average propensity to consume
Option 4: Average propensity to save.
Answer (1)
10th Jan, 2024
Correct Answer: Marginal propensity to consume
Solution :
Marginal propensity to consume is defined as ratio of change in consumption to change in total income
Hence, Option A is correct.
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