Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Determination of Income and Employment

Question:

Which of the following is correct?

Options:

APC = \(\frac{C}{ Y}\)

MPC = 1 - MPS

APC + APS = 1

All of the above

Correct Answer:

All of the above

Explanation:

All the options are correct. 

  1. APC = \(\frac{C}{ Y}\)
  2. MPC = 1 - MPS
  3. APC + APS = 1