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Express the number 0.6 as a ratio of integers. ㅇ유 ㅇ. 69

Express the number 0.6 as a ratio of integers. ㅇ유 ㅇ. 69

Elementary Algebra
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter1: Foundations
Section1.8: The Real Numbers
Problem 1.219TI: Write as the ratio of two integers: (a) 24 (b) 3.57.
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Express the number 0.6 as a ratio of integers. ㅇ유 ㅇ.
Transcribed Image Text:Express the number 0.6 as a ratio of integers. ㅇ유 ㅇ.
When money is spent on goods and services, those that receive the money also spend some of it. The people receiving some of the twice-spent money will spend some of that, and so on. Economists call this chain reaction the multiplier effect. In a hypothetical isolated community, the local government begins the process by spending D dollars. Suppose that each recipient of spent money spends 100c% and saves 100s% of the money that he or she receives. The values c and s are called the marginal propensity to consume and the marginal propensity to save and, of course, c+ s = 1. The number k = 1/s is called the multiplier. What is the multiplier if the marginal propensity to consume is 60%? 3.5 1.5 2.5
Transcribed Image Text:When money is spent on goods and services, those that receive the money also spend some of it. The people receiving some of the twice-spent money will spend some of that, and so on. Economists call this chain reaction the multiplier effect. In a hypothetical isolated community, the local government begins the process by spending D dollars. Suppose that each recipient of spent money spends 100c% and saves 100s% of the money that he or she receives. The values c and s are called the marginal propensity to consume and the marginal propensity to save and, of course, c+ s = 1. The number k = 1/s is called the multiplier. What is the multiplier if the marginal propensity to consume is 60%? 3.5 1.5 2.5
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