Question 3 In a closed economy, the national saving function for country B is S = -580+ 0.50 and investment 1 RM900 million a) Complete the following schedule. Show your formula and workings Table 2 National income (Y) (RM million) Savings (S) Consumption (C) (RM million) (RM million) Investment (1) (RM million) 100 350 400 650 900 1050 b) Derive the consumption function

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: Savings,investment And The Financial System
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Question 3
In a closed economy, the national saving function for country B is S = -580+ 0.50 and
investment 1 RM900 million
a) Complete the following schedule. Show your formula and workings
Table 2
National income (Y) (RM million) Savings (S) Consumption (C)
(RM million) (RM million)
Investment (1)
(RM million)
100
350
400
650
900
1050
b) Derive the consumption function
Transcribed Image Text:Question 3 In a closed economy, the national saving function for country B is S = -580+ 0.50 and investment 1 RM900 million a) Complete the following schedule. Show your formula and workings Table 2 National income (Y) (RM million) Savings (S) Consumption (C) (RM million) (RM million) Investment (1) (RM million) 100 350 400 650 900 1050 b) Derive the consumption function
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