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ECON MACRO 5th Edition by William McEachern
النسخة 5الرقم المعياري الدولي: 978-1305659094ECON MACRO 5th Edition by William McEachern
النسخة 5الرقم المعياري الدولي: 978-1305659094 تمرين 3
Explain what a consumption function illustrates and interpret its slope
(Consumption and Saving) Suppose that consumption equals $500 billion when disposable income is $0 and that each increase of $100 billion in disposable income causes consumption to increase by $70 billion. Draw a graph of the consumption function using this information. What is the slope of the consumption function?
(Consumption and Saving) Suppose that consumption equals $500 billion when disposable income is $0 and that each increase of $100 billion in disposable income causes consumption to increase by $70 billion. Draw a graph of the consumption function using this information. What is the slope of the consumption function?
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ECON MACRO 5th Edition by William McEachern
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