Homework Answers
MPC=change in consumption / change in disposable income
Change in income=30,000-20,000
=10,000
From this change in income $1,000 is saved.
From this change in income $900 is consumed.
MPC=change in consumption / change in disposable income
=900/1000
=0.9
Hence option A is correct answer.
2.
MPC=change in consumption / change in disposable income
Change in income=30,000-20,000
=10,000
From this change in income $1,000 is saved.
From this change in income $900 is consumed.
MPC=change in consumption / change in disposable income
=900/1000
=0.9
MPS=1-MPC
=1-0.9
=0.1
Hence option B is correct.
3.
MPC=change in consumption / change in disposable income
Change in income=30,000-20,000
=10,000
From this change in income $1,000 is saved.
From this change in income $900 is consumed.
APC=C/Y
Consumption=Y-S
=30000-6000
=24000
APC=24000/30000
=0.8
Hence option C is correct answer.
4.
MPC=change in consumption / change in disposable income
Change in income=30,000-20,000
=10,000
From this change in income $1,000 is saved.
From this change in income $900 is consumed.
APC=C/Y
Consumption=Y-S
=30000-6000
=24000
APC=24000/30000
=0.8
APS=1-APC
=1-0.8
=0.2
Hence option D is the correct answer.
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Please match the following terms with their examples. If income increases from $20,000 to $30,000 and...
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Use the table below to answer the question. Disposable Income $10.000 $20,000 $30,000 $40.000 Consumption $12,000 $20.000 $28,000 $36.000 The marginal propensity to save (MPS) is equal to and the marginal propensity to consume (MPC) is equal to 0.2:0.8 O 0.25:0.75 O 0.75:0.25 O 0.8:0.2 Use the table below to answer the question. Disposable Income $10,000 $20,000 $30,000 $40,000 Consumption $12,000 $20,000 $28,000 $36,000 Autonomous consumptly is equal to: $1,000 O $4,000. O $10,000. O $12,000.
Please explain why questions 36-39 are the answers they are and show the work. We were...
Please explain why questions 36-39 are the answers they are and
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We were unable to transcribe this image38. At the $450 level of disposable income, a) marginal propensity to consume is 1; b) marginal propensity to save is 0; c) average propensity to consume is 0.8; d) average propensity to save is 0 Answer: Correct Answer: At all levels of DI, MPC is 40/50-0.8 and MPS is 0.2. At the $450 level of disposable income c) APC...
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option 308 is incorrect please help me solve this hw problem Scenario 5.6: Consider the information...
option 308 is incorrect please help me solve this hw
problem
Scenario 5.6: Consider the information in the table below, describing choices for a new doctor. The outcomes represent different macroeconomic environments, which the individual cannot predict. We assume the doctor's utility of income function is given as: U(I) = 10.5, where I represents income. Outcome 1 Outcome 2 Job Choice Prob. Income Prob. Income 0.95 $100,000 0.05 $60,000 Work for HMO Own practice Research 0.2 $250,000 0.8 $30,000 0.1...
option 500 is incorrect please help Scenario 5.6: Consider the information in the table below, describing...
option 500 is incorrect please help
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MATCH TERMS
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Please explain why questions 36-39 are the answers they are and
show the work.
We were unable to transcribe this image38. At the $450 level of disposable income, a) marginal propensity to consume is 1; b) marginal propensity to save is 0; c) average propensity to consume is 0.8; d) average propensity to save is 0 Answer: Correct Answer: At all levels of DI, MPC is 40/50-0.8 and MPS is 0.2. At the $450 level of disposable income c) APC...
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option 308 is incorrect please help me solve this hw
problem
Scenario 5.6: Consider the information in the table below, describing choices for a new doctor. The outcomes represent different macroeconomic environments, which the individual cannot predict. We assume the doctor's utility of income function is given as: U(I) = 10.5, where I represents income. Outcome 1 Outcome 2 Job Choice Prob. Income Prob. Income 0.95 $100,000 0.05 $60,000 Work for HMO Own practice Research 0.2 $250,000 0.8 $30,000 0.1...
option 500 is incorrect please help
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MATCH TERMS
Match the following terms with the definitions or statements listed below. Indicate your answers in the spaces provided. a. Account g. Expenses b. Accounts payable h. Income statement C. Accounts receivable i. Net income d. Balance sheet j. Revenue e. Corporation k. Partnership f. Debit 1. Sole proprietorship Answer 1. A business owned by stockholders. 2. Costs incurred in running a business. 3. When revenue is larger than expenses. 4. The left-hand side of an account. 5. A...
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