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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

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)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: Savings,investment And The Financial System
Section: Chapter Questions
Problem 3QR
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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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