(Advanced Analysis)Linear equations for the consumption and

Homework Assistance Economics (Advanced Analysis)Linear equations for the consumption and

Economics

(Advanced Analysis)Linear equations for the consumption and

(Advanced Analysis)Linear equations for the consumption and saving schedules take the general form: … Show more (Advanced Analysis)Linear equations for the consumption and saving schedules take the general form: C=a+bY and S= -a+ (1 -b)Y whereC,S, andYare consumption, saving, and national income, respectively. The constantarepresents the vertical intercept, andbrepresents the slope of the consumption schedule. a.Use the following data to substitute specific numerical values into the consumption and saving equations. National Income (Y) Consumption (C) $ 0 $ 150 200 300 400 450 600 600 800 750 Instructions: If you are entering any negative numbers, be sure to include a negative sign (-) in front of those numbers. C= $(Click to select)+-Y S= $(Click to select)+-Y b.What is the economic meaning ofb?(Click to select)MPCMPS What is the economic meaning of (1-b)?(Click to select)MPCMPS c.Suppose that the amount of saving that occurs at each level of national income falls by $20 but that the values ofband (1 -b) remain unchanged. Restate the saving and consumption equations inserting the new numerical values. Instructions: If you are entering any negative numbers, be sure to include a negative sign (-) in front of those numbers. C= $(Click to select)+-Y S= $(Click to select)+-Y • Show less

Order Now

Ready to try a high quality writing service? Get a discount here
AllEscort