Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

According to the table, is $30 billion when disposable income is $510 billion. Consumption and Saving Schedules (in Billions) and Propensities to Consume and Save

According to the table, is $30 billion when disposable income is $510 billion. Consumption and Saving Schedules (in Billions) and Propensities to Consume and Save (1) Level of Output and Income (GDP = DI) (2) Consumption (C) (3) Saving (S), (1) (2) (4) Average Propensity to Consume (APC),(2)/(1) (5) Average Propensity to Save (APS),(3)/(1) (6) Marginal Propensity to Consume (MPC), (2)/ (1)* (7) Marginal Propensity to Save (MPS), (3)/ (1)* (1) $370 $375 $5 1.01 .01 .75 .25 (2) 390 390 0 1.00 .00 .75 .25 (3) 410 405 5 .99 .01 .75 .25 (4) 430 420 10 .98 .02 .75 .25 (5) 450 435 15 .97 .03 .75 .25 (6) 470 450 20 .96 .04 .75 .25 (7) 490 465 25 .95 .05 .75 .25 (8) 510 480 30 .94 .06 .75 .25 (9) 530 495 35 .93 .07 .75 .25 (10) 550 510 40 .93 .07 .75 .25

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting and Analysis Using Financial Accounting Information

Authors: Charles H. Gibson

13th edition

1285401603, 1133188796, 9781285401607, 978-1133188797

Students also viewed these Economics questions