The following table provides data for output (real GDP) and saving. a. Fill in the missing...

 

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The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray shaded cells) in the table. Instructions: In the table, round your answers to 3 decimal places. If you are entering any negative numbers be sur Level of Output and Income 480 520 560 600 640 680 720 760 800 Consumption 488 520 552 584 616 648 680 712 744 Saving 0 8 16 24 32 40 48 56 APC 1.017 973 93 039 APS -0.017 961 027 What is the value of the marginal propensity to consume? What is the value of the marginal propensity to save? b. What is the break-even level of income in the table? Instructions: Enter your answer as a whole number. Break-even level of income = $ 640 What is the term that economists use for the saving situation shown at the $480 level of income? Dissaving earch the web and Window 07 The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray shaded cells) in the table. Instructions: In the table, round your answers to 3 decimal places. If you are entering any negative numbers be sur Level of Output and Income 480 520 560 600 640 680 720 760 800 Consumption 488 520 552 584 616 648 680 712 744 Saving 0 8 16 24 32 40 48 56 APC 1.017 973 93 039 APS -0.017 961 027 What is the value of the marginal propensity to consume? What is the value of the marginal propensity to save? b. What is the break-even level of income in the table? Instructions: Enter your answer as a whole number. Break-even level of income = $ 640 What is the term that economists use for the saving situation shown at the $480 level of income? Dissaving earch the web and Window 07

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1 MPC Change in Consumption Change in Income At every level of output change in consumpt... View the full answer