wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

APC can be defined as the fraction of change in income that is consumed.
True/false.

Open in App
Solution

False.
APC refers to Average Propensity to Consume which defines the amount of consumption in every 1 rupee of income for all levels of specific income.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Building the Supply Curve
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon