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Economics · 2024 · 1 mark
CBSE 2024 · Region 1 · Set 1 · Q1
Read the following statements carefully :Statement $\displaystyle 1$ : If in an economy the level of income increases (ΔY), it will always proportionately increase the level of consumption (ΔC).Statement $\displaystyle 2$ : Marginal Propensity to Consume (MPC) and Marginal Propensity to Save (MPS) are always equal to each other.In the light of the given statements, choose the correct alternative from the following :
Official answer
From CBSE’s own marking scheme for this paper.
(D)
Both Statements $\displaystyle 1$ and $\displaystyle 2$ are false.
Marking-scheme solution
(D)
Both Statements $\displaystyle 1$ and $\displaystyle 2$ are false.
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CBSE Class 12 Economics past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.