If all 110 million households spent the same additional dollars on appliances, electronics, and furniture as the sample 30,000 rebate receiving households did so, how much did aggregate consumption increase?
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If all 110 million households spent the same additional dollars on appliances, electronics, and furniture as the sample 30,000 rebate receiving households did so, how much did aggregate consumption increase?
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- By how many times, respectively, did benefits, environmental costs, and social and economic costs increase between 1950 and 2004? How are trends in each of these components driving the overall trend between the GPI and the GDP? Which component has gotten the worst over the years? How would you account for these trends?Calculate the value of MPS is 0.8 calculate MPCDraw the consumption function as the relation of the consumer's income and expenditure. What does the slope of the consumption function depend on? Is the consumer's income the only factor determining the level of his consumption spending?
- Calculate the value of MPC. The value of MPS is given to be as 0.95Calculate the value of MPC when MPS Is 0.41Construct a consumption function from the data given here and determine the MPC. Given the consumption function in the above question, what is the relationship between disposable income and consumption? Is it direct or indirect and then explain what it means.