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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A) What is the value of the marginal propensity to consume? ( Round your answers to one decimal place). What is the value of the marginal propensity to save?

B) What is the break-even level of income in the table? (Enter your answer as a whole number)

What is the term that economists use for the saving situation shown at the $ 240 level of income.

C) For each of the following items, indicate wheter the value in the table is either constant or variable as income changes:

The MPS is (constant/ variable) as income changes.

The APC is ( constant/ variable) as income changes.

The MPC is ( constant/ variable) as income changes.

The APS is (constant/ variable) as income chnages.

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Data for output (real income) and saving are presented in the table below
a. Fill in the missing numbers (gray-shaded cells) in the table.
Instructions: In the table, round your answers to 4 decimal places. If you are entering any negative numbers be sure to include a
negative sign ) in front of those numbers
Level of Output and
Income (GDP DI)
APS
APC
Saving
Consumption
$240
10
260
4
280
300
12
320
16
340
20
360
24
380
28
400
What is the valije nf the marninal nrnnensity tn conciimer
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