Complete the following table assuming that (a) MPS = 0.1, (b) there is no government and all saving is personal saving. (mps=marginal propensity to save) Hint: mps = S₁ - So / Y₁ - Yo Level of output and Total Consumption Total Saving income 220 230 -10 245 Number Number 270 Number Number 295 Number Number 320 Number Number
Complete the following table assuming that (a) MPS = 0.1, (b) there is no government and all saving is personal saving. (mps=marginal propensity to save) Hint: mps = S₁ - So / Y₁ - Yo Level of output and Total Consumption Total Saving income 220 230 -10 245 Number Number 270 Number Number 295 Number Number 320 Number Number
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Complete the following table assuming that (a) MPS = 0.1, (b) there is no government and all saving is personal saving.
(mps=marginal propensity to save)
Hint: mps = S₁ - So / Y₁ - Yo
Level of output and
Total Consumption
Total Saving
income
220
230
-10
245
Number
Number
270
Number
Number
295
Number
Number
320
Number
Number
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