Suppose the consumption function is C = $200 + 0.8Y. a. What is the amount of autonomous

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Suppose the consumption function is C = $200 + 0.8Y.

a. What is the amount of autonomous consumption?

b. What is the marginal propensity to consume?

c. What would consumption equal when real GDP equals $1,000?

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Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

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Question Posted: Apr 23, 2024 02:01 AM

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Suppose the consumption function is C = $200 + 0.8Y. a. What is the amount of autonomous

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a Autonomous consumption is the intercept of the cons...View the full answer

Economics

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