i need the answer quickly 16. Find consumption expenditure from thefollowingNational Income Rs. 5000Autonomous Consumption = Rs. 1000%3DMarginal Propensity to Consume = 0.8%3D

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Answered: 16. Find consumption expenditure from…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 16RQ: What is the difference between a positive and a normative statement?

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16. Find consumption expenditure from the following National Income Rs. 5000 Autonomous Consumption = Rs. 1000 Marginal Propensity to Consume = 0.8