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Complete the following table assuming that (a) MPS = 0.6, (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 250 260 Number 275 Number Number 300 Number Number 325 Number Number 350 Number Number Suppose a family's annual disposable income is 10,500 of which it saves 1,900. (a) What is their APC (average propensity to consume)? Number (b) If their income rises to 12,000 and they plan to save 2,400, what are their MPS and Number MPC? Number

Complete the following table assuming that (a) MPS = 0.6, (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 250 260 Number 275 Number Number 300 Number Number 325 Number Number 350 Number Number Suppose a family's annual disposable income is 10,500 of which it saves 1,900. (a) What is their APC (average propensity to consume)? Number (b) If their income rises to 12,000 and they plan to save 2,400, what are their MPS and Number MPC? Number

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Complete the following table assuming that (a) MPS = 0.6, (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 250 260 Number 275 Number Number 300 Number Number 325 Number Number 350 Number Number Suppose a family's annual disposable income is 10,500 of which it saves 1,900. (a) What is their APC (average propensity to consume)? Number (b) If their income rises to 12,000 and they plan to save 2,400, what are their MPS and Number MPC? Number
Transcribed Image Text:Complete the following table assuming that (a) MPS = 0.6, (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 250 260 Number 275 Number Number 300 Number Number 325 Number Number 350 Number Number Suppose a family's annual disposable income is 10,500 of which it saves 1,900. (a) What is their APC (average propensity to consume)? Number (b) If their income rises to 12,000 and they plan to save 2,400, what are their MPS and Number MPC? Number
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