Question: Consider a simple model, such as the one developed in this chapter. The table to the right shows the levels of desired consumption, desired investment,

Consider a simple model, such as the one developed in this chapter. The table to the right shows the levels of desired consumption, desired investment, and desired aggregate expenditures for various levels of actual national income. Using the information from the table, the consumption function for this economy can be written as Y CTAE 0 $300 $200 $500 $2,500 $2,550 $200 $2,750 $5,000 $4,800 $200 $5,000 $7,500 $7,050 $200 $7.250 $10,000 $9,300 $200 $9,500 $12,500 $11,550 $200 $11.750 C-+ Y (Round your response for the intercept term to the nearest whole number and for the slope term to two decimal places.) Using the information from the table, we can see that the autonomous investmoet expenditures are equal to Using the information obtained above, we can compute the desired autonomous aggregate expenditures as $ and the value of marginal propensity to consume as I. (Round your response for the intercept term to the nearest whole number and for the slope term to two decimal places.).(Round your response to the Consequently, the equilibrium level of national income in this model is $ nearest whole number.) Enter your answer in each of the answer boxes

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