Hatter201 Hatter201

28-08-2020
Business

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Suppose that a consumer has a marginal propensity to consume of 0.7. If this consumer earns an extra $2, her consumption spending would be expected to

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Tundexi Tundexi

31-08-2020

Answer:

Her consumption spending will rise by $1.40

Explanation:

Marginal propensity to consume is 0.7. This information means that the individual will consume 70% of every single dollar she earns. Hence, if she consumer earns an extra $2, her consumption spending will rise by $1.40

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