Based on the information presented below, what is the equation representing the saving for this economy? GDP (Y) Consumption (C) Saving (S) Investment (I) $0 $60 $-60 $100 100 120 -20 100 200 180 20 100 300 240 60 100 O a. S = -60 + 0.6Y O b. S = 60 + 0.4Y O c. S = -40 + 0.75Y O d. S = -60 + 0.4YWhich of the following best describes marginal propensity to consume (MPC) and average propensity to consume (APC)? O a. MPC is less than or equals 1, but APC can be either greater or less than 1 O b. Both MPC and APC are always less than 1 O c. MPC is less than 1, but APC is always equal to 1 O d. MPC and APC are always greater than or equal to 1Why did Malthusls predictions was not realized for most of the developed world? O a. Death due to natural disasters slowed the population growth O b. The law of diminishing returns applies only in theory, not in practice 0 c. He implicitly neglected the potential effect of technological advancement C) d. His predictions were only intended to apply to African nations In a closed economy, what will an increase in government spending without an equivalent increase in tax revenue lead to? O a. A decrease in private saving and a decrease in investment O b. A decrease in public saving and a decrease in the quantity of investment 0 c. An increase in private saving and an increase in investment Q d. An increase in public saving and an increase in investment Which of the following changes in personal income tax would lead to the smallest increase in consumption? O a. a $30 000 decrease in taxes, if MPC equals 0.25 O b. a $15 000 decrease in taxes, if MPC equals 0.6 O c. a $20 000 decrease in taxes, if MPC equals 0.5 O d. a $12 000 decrease in taxes, if MPC equals 0.75 O e. a $10 000 decrease in taxes, if MPC equals 0.2What did Malthus base his predictions regarding the decline in per capita economic growth on? O a. The law of diminishing marginal returns 0 b. Scarce resources 0 c. The law of demand 0 d. Decreasing returns to scale