Would someone explain to me how to get the answers, please. I need the graphs plotted, the blue box answer, and the fill in the blanks answered. Below are the options.
Options for the first graph it says: From the preceding data, you know that the level of saving in the economy was ($140 billion, $20 billion, $0 billion, $100 billion) and the marginal propensity to save in the economy is (0.6, 0.8, 0.1, 0.2)
Options for the second graph are:
Suppose that this year, disposable income is projected to be $450 billion. Based on your analysis, you would expect consumption to be ($440 billion, $340 billion, $460 billion, $250 billion) and saving to be ($10 billion,$120 billion, $40 billion, $150 billion).
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Would someone explain to me how to get the answers, please. I need the graphs plotted,...
5. Graphing the consumption function from the MPC Consider a hypothetical economy in which the marginal propensity to consume (MPC) is 0.50. That is, if disposable income increases by $1, consumption increases by 50¢. Suppose further that last year disposable income in the economy was $400 billion and consumption was $350 billion. On the following graph, use the blue line (circle symbol) to plot this economy's consumption function based on these data. Consumption Function CONSUMPTION (Billions of dollars) 0 800...
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. YOU ARE GIVEN THE FOLLOWING INFORMATION ABOUT THE ECONOMY OF ENGLAND. PLEASE ANSWER QUESTIONS A THROUGH C AND SHOW ALL WORK AND CALCULATIONS BELOVW DISPOSABLE INCOME CONSUMPTION (BILLIONS OF DOLLARS PER YEAR) $200 $100 S20 S30 $40 S360 $440 S520 A CALCULATE THE MARGINAL PROPENSITY TO CONSUME(MPC) AT EACH LEVEL OF DISPOSABLE INCOME AND CONSUMPTION LEVEL. INTERPET WHAT THE MPC NUMBER YO CALCULATED MEANS TO YO B. CALCULATE SAVINGS AT EACH LEVEL OF DISPOSABLE INCOME AND CONSUMPTION LEVEL. c....
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