If the consumption function is given by C = 0.7 Y + 40 state the values of
Question:
If the consumption function is given by C = 0.7 Y + 40 state the values of
(a) autonomous consumption;
(b) marginal propensity to consume.
Transpose this formula to express Y in terms of C and hence find the value of Y when C = 110.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
b 07 07Y40C 07YC40 YC40 7Y1...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
A consumption function is given by C = aY + b. It is known that when Y = 10, the value of C is 28, and that when Y = 30, the value of C is 44. By solving a pair of simultaneous equations, find the...
-
1. If the national consumption function is given by C(y) = 2(y + 1)1/2 + 0.4y + 4 find the marginal propensity to consume, dC/dy. 2. Suppose that the demand function for q units of an appliance...
-
A function is given by a table of values, a graph, a formula, or a verbal description. Determine whether it is one-to-one. (a) (b) (c) (d) f (x) = x2 - 2x f(x) .5 2.0 365.32.8 2.0
-
Use your results from question 16 to construct a cumulative frequency table. Use the goaltenders salaries for the 1991 NHL season given in the following table to answer question. Question 16 Group...
-
A local fast-food store is considering accepting major credit cards in its outlets. Current annual sales are $800,000 per outlet. The company can purchase the equipment needed to handle credit cards...
-
For the following exercises, use the given information to find the equation for the ellipse. A whispering gallery is to be constructed such that the foci are located 35 feet from the center. If the...
-
Outline the general strategy used in metagenomics.
-
Top Corporation produces a line of beverage lids. The production process has been automated, so the product can now be produced in one operation rather than in the three operations that were needed...
-
What is the relationship between voltage drop and the resistance in the circuit? Explain.
-
Victoria Lee Company had the following adjusted trial balance. Instructions (a) Prepare closing entries at June 30, 2017. (b) Prepare a post-closing trialbalance. VICTORIA LEE COMPANY Adjusted Trial...
-
If the national income, Y, is 1000 units, then consumption, C, is 800 units. Also whenever income rises by 100, consumption increases by 70. Assuming that the consumption function is linear: (a)...
-
Write down expressions for the savings function given that the consumption function is (a) C = 0.9Y + 72 (b) C = 0.8Y + 100
-
Consider a project with the following cash flows. Determine the projects IRR. If the annual cost of capital is 20 percent, would you undertake this project? Year 1 -$4,000 Year 2 $2,000 Year 3 $4,000
-
Opponents of globalization are concerned that manufacturing jobs will be moved to more O developing O developed countries.
-
China has a thriving economic state china has seemed to be the mecca of industrial products .China has benefited from globalization substantially. China main focus economically comes from...
-
Suncorp is a banking and insurance company that has its headquarters in Brisbane, Australia . The company employs more than 16 000 people and has over 7 million customers and an AUD8 billion asset...
-
for checking the quality level of a wallpaper hanging job, a random area of 3 0 0 m 2 is taken and no . of blemisher are count. the total no . of blemishes for 3 0 such samples are 8 0 . The 3 Sigma...
-
Develop an electronic portfolio for one child. The portfolio will include a summary for each domain of development and all methods of assessment and documentation that were presented in class...
-
What holds a suction cup in place?
-
Maria Castigliani is head of the purchasing department of Ambrosiana Merceti, a medium-sized construction company. One morning she walked into the office and said, The main problem in this office is...
-
Suppose that the supply and demand for printed baseball caps for a particular week are Price-supply equation Price-demand equation where p is the price in dollars and q is the quantity in hundreds....
-
Suppose that the supply and demand for printed baseball caps for a particular week are Price-supply equation Price-demand equation where p is the price in dollars and q is the quantity in hundreds....
-
At $2.13 per bushel, the annual supply for corn in the Midwest is 8.9 billion bushels and the annual demand is 6.5 billion bushels. When the price falls to $1.50 per bushel, the annual supply...
-
21. Based on the Gordon Growth Model of stock prices, how would you expect each of the following shocks to affect the overall level of stock prices (up, down, or no change), all else equal? In each...
-
7. (5 Points) The graph plots the value of the firm, VL, aganst the amount of Debt, D. Three lines corresponding to three different stories have been drawn: MM I without taxes, MM I with taxes and...
-
Did you know that 90% of brand interactions are through digital channels? And that most of these digital channels can be found on mobile? make a blog entry (five hundred words minimum) that tells the...
Study smarter with the SolutionInn App