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1. Complete the accompanying table. Level of output and income (GDP = DI) Consumption Saving APC APS MPC MPS $100 $-5 1 125 1 150
1. Complete the accompanying table. Level of output and income (GDP = DI) Consumption Saving APC APS MPC MPS $100 $-5 1 125 1 150 175 10 200 225 20 11III1 250 25 11111 1 275 30 300 35 (a) What is the break-even level of income? How is it possible for households to dissave at very low income levels? (b) If the proportion of total income consumed decreases and the proportion saved increases as income rises, explain how the MPC and MPS can be constant at various levels of income
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