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Data for output (real Income) and savings are presented in the table below. a. Fill in the missing values. Instructions: To complete the table
Data for output (real Income) and savings are presented in the table below. a. Fill in the missing values. Instructions: To complete the table round your answers to two decimal places. For any negative numbers be sure to include a negative sign (-) in front of that number. Level of Output and Income Consumption Saving APC APS MPC MPS $480 $ 496 -$8 520 $ 520 4 560 $ 544 0 600 $ 568 4 640 $ 592 8 680 $ 616 12 720 $ 640 16 760 $ 664 20 800 $ 688 24 b. What is the break-even level of income in the table? $ What is the term that economists use for the saving situation shown at the $480 level of income? (Click to select) c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes! c. For each of the following Items, indicate whether the value in the table is either constant or variable as income changes The MPS is (Click to select)as income changes. The APC is (Click to select) as income changes The MPC is (Click to select) as income changes. The APS is (Click to select) as income changes
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