If the consumption function is C= $800 billion + 0.8 Y, Instructions: In part a, round your response to one decimal place. In parts b-d, enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. what is the MPC? b. how large is autonomous consumption? billion c. how much do consumers spend with incomes of $4 trillion? billion
If the consumption function is C= $800 billion + 0.8 Y, Instructions: In part a, round your response to one decimal place. In parts b-d, enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. what is the MPC? b. how large is autonomous consumption? billion c. how much do consumers spend with incomes of $4 trillion? billion
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![If the consumption function is C= $800 billion + 0.8 Y,
Instructions: In part a, round your response to one decimal place. In parts b-d, enter your responses as a whole number. If
you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
a. what is the MPC?
b. how large is autonomous consumption?
billion
c. how much do consumers spend with incomes of $4 trillion?
billion
d. how much do they save?
billion
100%
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7 of 10
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Transcribed Image Text:If the consumption function is C= $800 billion + 0.8 Y,
Instructions: In part a, round your response to one decimal place. In parts b-d, enter your responses as a whole number. If
you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
a. what is the MPC?
b. how large is autonomous consumption?
billion
c. how much do consumers spend with incomes of $4 trillion?
billion
d. how much do they save?
billion
100%
< Prev
7 of 10
Next >
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