Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If the equation C = 20 + 0.6Y, where C is consumption and Y is disposable income, were graphed, Group of answer choices the vertical

If the equation C = 20 + 0.6Y, where C is consumption and Y is disposable income, were graphed, Group of answer choices the vertical intercept would be +0.6 and the slope would be +20 At zero disposable income consumption would be +20 and the MPC would be +0.6 it would reveal an inverse relationship between consumption and disposable income. the vertical intercept would be negative, but consumption would increase as disposable income rises

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_2

Step: 3

blur-text-image_3

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

Economic Issues and Policy

Authors: Jacqueline murray brux

6th edition

9781337001977, 1285448774, 133700197X, 978-1285448770

More Books

Students also viewed these Economics questions