Income and consumption changes for five people are shown in the table. Given this information, rank...
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Income and consumption changes for five people are shown in the table. Given this information, rank the marginal propensities to consume (MPC) for the five people from largest to smallest. Largest MPC Smallest MPC Name Income change Consumption change Andrew +$20,000 Bill +$10,000 Casey +$4,000 Doug -$10,000 Ernest -$20,000 +$12,000 +$3,200 +$3.200 -$7,000 -$8,000 Income and consumption changes for five people are shown in the table. Given this information, rank the marginal propensities to consume (MPC) for the five people from largest to smallest. Largest MPC Smallest MPC Name Income change Consumption change Andrew +$20,000 Bill +$10,000 Casey +$4,000 Doug -$10,000 Ernest -$20,000 +$12,000 +$3,200 +$3.200 -$7,000 -$8,000
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Related Book For
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
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