Use the consumption function shown to answer the following questions. At what level of income is consumption equal to disposable income? $ billion. Which of the following statements is true? OA. At an income level of $0 billion there is dissaving equal to $30 billion. OB. At an income of $100 billion there is dissaving of $20 billion. OC. Saving equals consumption at an income level of $60 billion O D. Consumption is $20 billion when the income level is $100 billion. Planned Real Consumption 110- 100- 90- 80- 70- 60 50- 40- 304 20- 10- 0- 0 10 C=Y₁₁ € 20 30 40 50 60 70 80 90 100 110 Real Disposable Income ($ billions) Q Q

Use the consumption function shown to answer the following questions. At what level of income is consumption equal to disposable income? $ billion. Which of the following statements is true? OA. At an income level of $0 billion there is dissaving equal to $30 billion. OB. At an income of $100 billion there is dissaving of $20 billion. OC. Saving equals consumption at an income level of $60 billion O D. Consumption is $20 billion when the income level is $100 billion. Planned Real Consumption 110- 100- 90- 80- 70- 60 50- 40- 304 20- 10- 0- 0 10 C=Y₁₁ € 20 30 40 50 60 70 80 90 100 110 Real Disposable Income ($ billions) Q Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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