wiz-icon
MyQuestionIcon
MyQuestionIcon
11
You visited us 11 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