The following table provides data for output (real GDP) and saving.a. Fill in the missing numbers (gray-shaded cells) in the table.Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimalplaces. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include anegative sign (-) in front of those numbers.Level of Output andIncome (GDP = DI)ConsumptionSavingАРСAPSMPCMPS496-0.033-0.015$480$-161.033520528-81.0155605601.0000.0005926246000.9870.013640160.9750.025680656240.9650.035720688320.9560.044760720400.9470.053800752480.9400.060 Instructions: Enter your answer as a whole number.b. What is the break-even level of income in the table?$What is the term that economists use for the saving situation shown at the $480 level of income?(Click to select)vc. For each of the following items, indicate whether the value in the table is either constant or variable as income changes:The MPS: (Click to select)♥The APC: (Click to select)♥The MPC: (Click to select)♥The APS: (Click to select)v

The given table, a) We know, GDP = C+S C = GDP-S So, At GDP = $480, S = -16, C= 480- (-16) C = 496…

The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimal places. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Level of Output and Income (GDP = DI) Consumption Saving АРС APS MPC MPS 496 1.033 -0.033 -0.015 $480 $-16 520 528 -8 1.015 1.000 0.987 0.975 0.965 0.000 0.013 0.025 560 560 592 624 600 8 640 16 680 656 24 0.035 720 688 32 0.956 0.044 760 720 40 0.947 0.053 800 752 48 0.940 0.060

The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimal places. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Level of Output and Income (GDP = DI) Consumption Saving АРС APS MPC MPS 496 1.033 -0.033 -0.015 $480 $-16 520 528 -8 1.015 1.000 0.987 0.975 0.965 0.000 0.013 0.025 560 560 592 624 600 8 640 16 680 656 24 0.035 720 688 32 0.956 0.044 760 720 40 0.947 0.053 800 752 48 0.940 0.060

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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