Principles of Macroeconomics 2e
Principles of Macroeconomics 2e
2nd Edition
ISBN: 9781947172388
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Chapter B, Problem 9RQ

Exercise D9

What is the marginal propensity to consume, and how is it related to the marginal propensity to import?

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Economics jj Consider the partial data set in the table represents online hours spent shopping by age and income. Using the min-max transformation to normalize Income, what is the average standard deviation of Income for the chart provided? Use the min-max transformation to normalize the observations for Income spent online. Age ID 2,201 2,202 2,203 2,204 2,205 2,206 Income 57,000 57,000 54,000 17,000 37,000 45,000 Multiple Choice 1.000 0.6875 51 48 45 35 33 31 Online Hours S459N4 2
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