Homework Answers
Answer
Consumption function is the form of
C=a+bYd
a=autonomus consumption =consumption when disposable income is zero=40
b=MPC=change in consumption /change in disposable income
=(100-40)/(100-0)
=0.6
Now the function is
C=40+0.6Yd
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Consider the following table showing aggregate consumption expenditures and disposable income. All values are expressed in...
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. 1. The data below pertain to a hypothetical private economy. Disposable Income (Y) Consumption (C)...
.
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In a simple economy (assume there are no taxes, thus Y is disposable income). the consumption...
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4. Use Table C: WHAT IS THE CONSUMPTION FUNCTION? C Fill in the table below. Describe...
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The consumption function is given by the equation: C = 400 + 0.8(Yd) where C = consumption and Yd = disposable income. Currently, the level of disposable income is $5000. What is the current level of consumption? What is the current level of saving? What is the MPC? What is the MPS? Calculate the APC and the APS. 6. We are given the following information about the levels of disposable income and savings: Disposable Income Consumption Savings APC APS MPC...
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The following table shows income and consumption. 350 Consumption $70 280- Income $100 $200 $300 $400 $500 $140 $210 $280 $350 Consumption ($) Using the multipoint curved line drawing tool, draw the consumption function given the data in the table above. Label this line 'C'. Carefully follow the instructions above, and only draw the required object. The slope of the line represents Ő 100 200 300 Income ($) 400 500 O A. government spending. O B. autonomous consumption. O C....
Table A Disposable Income Consumption $200 $205 225 225 250 245 275 265 285 300 Use information above to answer question 1 and 2 1. WHAT IS THE MPC. 2. If disposable income was $325, we would expect consumption to be: Table B Disposable Income Saving -$10 100 150 20 200 3. Use table B: At the $150 level of income, the average propensity to save is:
Consider the following table showing aggregate consumption expenditures and disposable income. All values are expressed in billions of constant dollars. a. Compute desired saving at each level of disposable income. (Round your responses to the nearest whole number.) 50- Disposable Income (Y) Desired Consumption (C) NUL Savings 100 200 300 400 5 0 600 700 800 100 180 Savings (5) -50/ 260 100 200 300 400 500 600 340 420 500 580 Click the graph, choose a tool in the...
.
1. The data below pertain to a hypothetical private economy. Disposable Income (Y) Consumption (C) $ 0 $ 60 100 130 200 200 300 270 400 340 Use the above data to answer the questions below: 1. Write the linear equation representing the economy's consumption schedule. Clearly show your steps and calculations. 2. With your equation in (1), calculate the economy's consumption at $385 level of disposable income. Clearly show your steps and calculations. 3. Estimate the economy's average...
In a simple economy (assume there are no taxes, thus Y is disposable income). the consumption function is: C = 200 +0.75Y. Investment is equal to 300. In this economy, equilibrium GDP is $ (Round your answer to the nearest dollar.) Planned Real Consumption and Investment 400 0 400 300 1200 1800 2000 2400 2800 Real GDP per Year
4. Use Table C: WHAT IS THE CONSUMPTION FUNCTION? C Fill in the table below. Describe your result 5. Disposable IncomeConsumption Saving $200 $210 $220 S0 S $230 $10 $20 $260 $280 $ $30 $300 $260
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