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Retnec Retnec
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7 years ago
If the marginal propensity to consume is 0.75, a $20 billion increase in personal income taxes will initially reduce consumption spending by
A) $20 billion.
B) $80 billion.
C) $15 billion.
D) $40 billion.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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VilaVila
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Retnec Author
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