Question : __________________________ refers to the consumption expenditure to the corresponding level of income.
Option 1: Average propensity to consume
Option 2: Marginal propensity to consume
Option 3: Average propensity to save
Option 4: None of the above.
Answer (1)
20th Jan, 2024
Correct Answer:
Average propensity to consume
Solution :
Average propensity to consume refers to the consumption expenditure to the corresponding level of income.
Hence, Option A is correct.
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