Answer:
The marginal propensity to consume is 0.2
Explanation:
As we know
Marginal propensity to consume (MPC) is equal to change in consumer spending divided by change in disposable income
Substituting the given values, we get -
Marginal propensity to consume (MPC)
The marginal propensity to consume is 0.2
Money is a substance that is acceptable as a medium of exchange for goods and services and can further be used to settle debt.
Money is well defined by its functions and characteristics.
Answer:
Their economy relied heavily on foreign imports, which would cost more.
Explanation:
The economy of southern colonies relied heavily on foreign imports, which would cost more due to imposing of tariffs. These tariffs increases the cost of foreign imported goods which is not profitable for the people of these colonies so most leaders of southern colonies rejected the tariffs imposed by British empire in the pre-Civil War years.
