A two sector economy has a total income of Rs. 150 billion and marginal propensity to consume (MPC) is 66.67% does this economy How much needed to invest once for all to increase it total income
by 100%
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Explanation:
The marginal propensity to consume is equal to ΔC / ΔY, where ΔC is the change in consumption, and ΔY is the change in income. If consumption increases by 80 cents for each additional dollar of income, then MPC is equal to 0.8 / 1 = 0.8.
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