1 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 Mook Level of Output and Income (GDP DI) $480 520 560 600 640 680 720 760 800 Consumption 512 536 560 584 600 632 650 680 704 Saving $-32 -16 0 16 32 48 64 80 96 Instructions: Enter your answer as a whole number. b. What is the break-even level of income in the table? APC 1.067 1.000 0973 0982 0978 0.974 0.880 APS -0.007 0.000 0027 0071 0089 0.105 0120 MPC W 0.6 0.6 0.6 0.6 0.6 0.6 06 0.6 MPS 560 What is the term that economists use for the saving situation shown at the $480 level of income? 0.4 04 04 0.4 04 04 04 04 Dissaving c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes: The MPS: Constant The APC: Vanable The MPC: [Constant The APS: Variable

1 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 Mook Level of Output and Income (GDP DI) $480 520 560 600 640 680 720 760 800 Consumption 512 536 560 584 600 632 650 680 704 Saving $-32 -16 0 16 32 48 64 80 96 Instructions: Enter your answer as a whole number. b. What is the break-even level of income in the table? APC 1.067 1.000 0973 0982 0978 0.974 0.880 APS -0.007 0.000 0027 0071 0089 0.105 0120 MPC W 0.6 0.6 0.6 0.6 0.6 0.6 06 0.6 MPS 560 What is the term that economists use for the saving situation shown at the $480 level of income? 0.4 04 04 0.4 04 04 04 04 Dissaving c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes: The MPS: Constant The APC: Vanable The MPC: [Constant The APS: Variable

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

Problem 8E

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