If the marginal propensity to consume is 0.6 and consumption expenditure changes by N10 million,…

Economics JAMB 2006

If the marginal propensity to consume is 0.6 and consumption expenditure changes by N10 million, the equilibrium level of income will change by

  • N4.0 milion
  • N25. 0 milion checkmark
  • N2.5 milion
  • N15.0 milion

The correct answer is: B

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn.
Previous Question Next Question

Leave A Comment