Homework Answers
Solution:-
|
Level of GDP |
Cosumption |
Saving |
APC |
APS |
|
(A) |
B = A - C |
(C) |
D = B / A |
E = 1 - D |
|
240 |
244 |
-$4 |
1.017 |
0.017 |
|
260 |
260 |
0 |
1 |
0 |
|
280 |
276 |
4 |
0.986 |
0.014 |
|
300 |
292 |
8 |
0.973 |
0.027 |
|
320 |
308 |
12 |
0.963 |
0.037 |
|
340 |
324 |
16 |
0.953 |
0.047 |
|
360 |
340 |
20 |
0.944 |
0.056 |
|
380 |
356 |
24 |
0.937 |
0.063 |
|
400 |
372 |
28 |
0.930 |
0.070 |
MPC = Change in consumption / Change in GDP
MPC = 16/20 = 0.8
MPS = Change in saving / change in GDP
MPS = 4/20 = 0.2
(B). Break level of income = 260 (where income and consumption is equal)
Economist use the saving situation shown at $240 level of income is known as Dissaving or Autonomous consumption.
(C).
The MPS is Constant as Income Changes.
The APC is changing as Income Changes.
The MPC is Constant as Income Changes.
The APS is Changing as income Changes
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