2. Refer to question 1. Again go to http://nova.umuc .edu/~black/consf1000.html. Input any level of consumer expenditure and

Question:

2. Refer to question 1. Again go to http://nova.umuc

.edu/~black/consf1000.html. Input any level of consumer expenditure and marginal propensity to consume. According to the resulting graph, where do the 45° line and the consumption function cross? What is the significance of this point? Will you be a saver or dissaver at income levels below this point?

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: