Answered step by step
Verified Expert Solution
Question
1 Approved Answer
According to the table, when disposable income is $470 billion, what is the savings? Consumption and Saving Schedules (in Billions) and Propensities to Consume and
According to the table, when disposable income is $470 billion, what is the savings? 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 *The Greek letter , delta, means "the change in." Multiple choice question. $25 billion $20 billion $40 billion $15 billion
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started