Given thë Income (RM million) Consumption (RM million 0. 100 100 150 200 200 300 250 400 300 500 350 a. How much is the autonomous consumption in the economy? b. How much investment should be increased to achieve an income of RM400 million? Calculate the MPS. C.

Given thë Income (RM million) Consumption (RM million 0. 100 100 150 200 200 300 250 400 300 500 350 a. How much is the autonomous consumption in the economy? b. How much investment should be increased to achieve an income of RM400 million? Calculate the MPS. C.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

1.
Given the following table.
Income (RM million)
Consumption (RM
million
0.
100
100
150
200
200
300
250
400
300
500
350
a. How much is the autonomous consumption in the economy?
b. How much investment should be increased to achieve an income of RM400 million?
c. Calculate the MPS.
d. Derive the consumption function.

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