In the country of Marzipana, disposable income in Year 1 was $56,000 million and in Year 2 was $60,000 million: It has been observed that each time disposable income changes in this country by $100, consumption changes by $70. Using this information compute the change in consumption from Year 1 to Year 2. A)Consumption increased by $2,800 million in Year 2. B)Consumption decreased by $2,800 million in Year 2. C)Consumption increased by $5,714 million in Year 2. D)Consumption increased by $4,000 million in Year 2. E) Consumption decreased by $4,000 million in Year 2.
In the country of Marzipana, disposable income in Year 1 was $56,000 million and in Year 2 was $60,000 million: It has been observed that each time disposable income changes in this country by $100, consumption changes by $70. Using this information compute the change in consumption from Year 1 to Year 2. A)Consumption increased by $2,800 million in Year 2. B)Consumption decreased by $2,800 million in Year 2. C)Consumption increased by $5,714 million in Year 2. D)Consumption increased by $4,000 million in Year 2. E) Consumption decreased by $4,000 million in Year 2.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section7.2: The Expenditure Approach To Computing Gdp For A Real World Economy
Problem 1ST
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In the country of Marzipana, disposable income in Year 1 was $56,000 million and in Year 2 was $60,000 million:
It has been observed that each time disposable income changes in this country by $100, consumption changes by
$70. Using this information compute the change in consumption from Year 1 to Year 2.
A)Consumption increased by $2,800 million in Year 2.
B)Consumption decreased by $2,800 million in Year 2.
C)Consumption increased by $5,714 million in Year 2.
D)Consumption increased by $4,000 million in Year 2.
E) Consumption decreased by $4,000 million in Year 2.
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