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Business, 30.03.2021 01:00 chasechevy13

Suppose the wealth effect is such that $10 changes in wealth produce $1 changes in consumption at each level of income. Instructions: Enter your answers as a whole number. a. If real estate prices tumble such that wealth declines by $80, what will be the new level of consumption at the $340 billion level of disposable income? $ b. What will be the new level of saving? $

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