Question: please use JMP The consumption function captures one of the key relationships in economics that was first developed by John Maynard Keynes.It expresses consumption as

 please use JMPThe consumption function captures one of the key relationshipsin economics that was first developed by John Maynard Keynes.It expresses consumptionas a function of disposable income, where disposable income is income after

please use JMP

The consumption function captures one of the key relationships in economics that was first developed by John Maynard Keynes.It expresses consumption as a function of disposable income, where disposable income is income after taxes.The table below shows the data for U.S. annual consumption and disposable income for the years 1985-2006.

taxes.The table below shows the data for U.S. annual consumption and disposableincome for the years 1985-2006. disposable Year consumption income 1985 $23,490.00 $36,436.001986 $23,866.00 $36,696.00 1987 $24,414.00 $41,405.00 1988 $25,892.00 $49,336.00 1989 $27,810.00 $47,690.001990 $28,381.00 $36,127.00 1991 $29,614.00 $49,757.00 1992 $29,846.00 $47,314.00 1993 $30,692.00 $49,469.00

disposable Year consumption income 1985 $23,490.00 $36,436.00 1986 $23,866.00 $36,696.00 1987 $24,414.00 $41,405.00 1988 $25,892.00 $49,336.00 1989 $27,810.00 $47,690.00 1990 $28,381.00 $36,127.00 1991 $29,614.00 $49,757.00 1992 $29,846.00 $47,314.00 1993 $30,692.00 $49,469.00 1994 $31,731.00 $33,208.00 1995 $32,264.00 $35,251.00 1996 $33,797.00 $48,633.00 1997 $34,819.00 $42,665.00 1998 $35,535.00 $55,914.00 1999 $36,995.00 $61,836.00 2000 $38,045.00 $66,345.00 2001 $39,518.00 $51,895.00 2002 $40,677.00 $60,798.00 2003 $40,817.00 $52,512.00 2004 $43,395.00 $63,055.00 2005 $46,409.00 $68,756.00 2006 $48,398.00 $72, 101.00

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