Question
(a) Given the marginal propensity to import M'(Y)=0.1 and the information that M=20 when Y=0,find the import function M(Y). (b) Given the marginal propensity C'(Y)=0.8+0.1Y
(a) Given the marginal propensity to import M'(Y)=0.1 and the information that M=20 when Y=0,find the import function M(Y).
(b) Given the marginal propensity C'(Y)=0.8+0.1Y -1/2 and the information that C =Y when Y=100, find the consumption function C(Y).
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Macroeconomics
Authors: Stephen D. Williamson
6th Edition
013447211X, 134472119, 978-0134472119
