Im stuck on this question Headıng 1StylesParagraph5. Consider the following table for the U.S. economy. (in millions of dollars)Disposable Income40,00045,00050,000Consumption32,50037,00041,500Year200020012002a. (1 pt) Using the data in the table above, calculate the Marginal Propensity toConsume (MPC). (Show work below)b. (0.5 pt) Interpret the value you calculated for MPC in part a.aDELL

MPC = Change in consumption / Change in disposable income = (37,000 - 32,500) / (45,000 - 40,000) =…

5. Consider the following table for the U.S. economy. (in millions of dollars) Consumption 32,500 37,000 41,500 Year Disposable Income 40,000 45,000 50,000 2000 2001 2002 a. (1 pt) Using the data in the table above, calculate the Marginal Propensity to. Consume (MPC). (Show work below)

5. Consider the following table for the U.S. economy. (in millions of dollars) Consumption 32,500 37,000 41,500 Year Disposable Income 40,000 45,000 50,000 2000 2001 2002 a. (1 pt) Using the data in the table above, calculate the Marginal Propensity to. Consume (MPC). (Show work below)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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