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?
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Related Book For
The Economics Of Money Banking And Financial Markets
ISBN: 9780321122353
7th Edition
Authors: Frederic S. Mishkin
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