Suppose that disposable income, consumption, and saving in some country are $200 billion, $150 billion, and $50 billion, respectively. Next, assume that disposable income increases by $20 billion, consumption rises by $16 billion, and saving goes up by $4 billion.
a. What is the economy's MPC? What is its MPS?
b. What was the APC before the increase in disposable income?
c. What was the APC after the increase?
Answers: 1
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This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.
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Suppose that disposable income, consumption, and saving in some country are $200 billion, $150 billi...
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