The fraction of additional current income that a person consumes in the current period is known as the
(a) consumption-smoothing motive.
(b) consumption deficit.
(c) saving rate.
(d) marginal propensity to consume.
Answer: D
The fraction of additional current income that a person consumes in the current period is known as the
(a) consumption-smoothing motive.
(b) consumption deficit.
(c) saving rate.
(d) marginal propensity to consume.
Answer: D
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