Engineering, 26.08.2021 14:00 xxaurorabluexx
Assume that the linear equation for consumption in a closed economy is C = 40 + 0.8Y. Also, assume that income (Y) is RM400 million.
Determine:
(a) the marginal propensity to consume
(b) the marginal propensity to save
(c) the level of consumption
(d) the average propensity to consume
(e) the level of saving
(f) the average propensity to save
Answers: 2
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Assume that the linear equation for consumption in a closed economy is C = 40 + 0.8Y. Also, assume t...
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