The following table provides data for output (real GDP) and saving.a. Fill in the missing numbers (gray-shaded cells) in the table.Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimalplaces. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include anegative sign (-) in front of those numbers.Level of Output andIncome (GDP = DI)ConsumptionSavingАРСAPSMPCMPS$480$-16520560166003264048680647208076096800112Instructions: Enter your answer as a whole number.b. What is the break-even level of income in the table?2$What is the term that economists use for the saving situation shown at the $480 level of income?|(Click to select) Vc. For each of the following items, indicate whether the value in the table is either constant or variable as income changes:The MPS: (Click to select) VThe APC: (Click to select) VThe MPC: (Click to select) VThe APS: (Click to select) ♥

[a] GDP($Y) Consumption (GDP-S) Saving Change in Y Change in C Change in S APC(C/Y) APS(S/Y) MPC…

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: The MPS: (Click to select) V The APC: (Click to select) The MPC: (Click to select) ♥ The APS: (Click to select) V

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: The MPS: (Click to select) V The APC: (Click to select) The MPC: (Click to select) ♥ The APS: (Click to select) V

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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