Use the consumption function shown to answer the following questions. At what level of income is consumption equal to disposable income? $ billion. 110 100- C-Y Which of the following statements is true? 90 OA Consumpfion is $30 billion when the income level is $100 bilion. OB. Saving equals consumption at an income level of $40 billion OC. At an income level of $0 billion there is dissaving equal to $20 billion. OD. At an income of $100 billion there is dissaving of $30 billion. 80- 70 60 50- 40 30 204 10 10 20 30 Real Disposable Income ($ billions) 40 s0 60 70 o 90 10o 110 Planned Real Consumption

Use the consumption function shown to answer the following questions. At what level of income is consumption equal to disposable income? $ billion. 110 100- C-Y Which of the following statements is true? 90 OA Consumpfion is $30 billion when the income level is $100 bilion. OB. Saving equals consumption at an income level of $40 billion OC. At an income level of $0 billion there is dissaving equal to $20 billion. OD. At an income of $100 billion there is dissaving of $30 billion. 80- 70 60 50- 40 30 204 10 10 20 30 Real Disposable Income ($ billions) 40 s0 60 70 o 90 10o 110 Planned Real Consumption

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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