In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume 0.8. The value of the multiplier is? - SchoolNGR

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In a closed economy, the marginal propensity to consume is 0.6 and the average ...

In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume 0.8. The value of the multiplier is?

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A 2.5
B 2.6
C 2.7
D 2.4

Correct Answer: Option A

Explanation:

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