Suppose that C = a + bY, where C = consumption, a = consumption at zero income,
Question:
a. Are C and Y positively related or are they negatively related?
b. If graphed, would the curve for this equation slope upward or slope downward?
c. Are the variables C and Y inversely related or directly related?
d. What is the value of C if a = 10, b = .50, and Y = 200?
e. What is the value of Y if C = 100, a = 10, and b = .25?
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a C and Y are positively related because the ...View the full answer
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Related Book For
Economics
ISBN: 978-0073375694
18th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
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