The table shows the salary of a construction worker in Canada.
$$\begin{array} { | c | c | c | }
\hline \text { YEAR } & \begin{array} { c }
\text { REAL } \
\text { INCOME } \
\text { (in Canadian dollars) }
\end{array} & \begin{array} { c }
\text { REAL } \
\text { CONSUMPTION } \
\text { (in Canadian dollars) }
\end{array} \
\hline 2015 & 42,000 & 33,600 \
\hline 2016 & 43,000 & 34,400 \
\hline 2017 & 47,500 & 38,000 \
\hline
\end{array}$$ (a) For each year, calculate saving at each level of income below.
(b) Calculate the marginal propensity to consume.

Question

The table shows the salary of a construction worker in Canada.
 $$\begin{array} { | c | c | c | } 
\hline \text { YEAR } & \begin{array} { c } 
\text { REAL } \
\text { INCOME } \
\text { (in Canadian dollars) }
\end{array} & \begin{array} { c } 
\text { REAL } \
\text { CONSUMPTION } \
\text { (in Canadian dollars) }
\end{array} \
\hline 2015 & 42,000 & 33,600 \
\hline 2016 & 43,000 & 34,400 \
\hline 2017 & 47,500 & 38,000 \
\hline
\end{array}$$ (a) For each year, calculate saving at each level of income below.
(b) Calculate the marginal propensity to consume.
​

Quizplus · Accepted Answer

The Answer of The table shows the salary of a construction worker in Canada.
 $$\begin{array} { | c | c | c | } 
\hline \text { YEAR } & \begin{array} { c } 
\text { REAL } \
\text { INCOME } \
\text { (in Canadian dollars) }
\end{array} & \begin{array} { c } 
\text { REAL } \
\text { CONSUMPTION } \
\text { (in Canadian dollars) }
\end{array} \
\hline 2015 & 42,000 & 33,600 \
\hline 2016 & 43,000 & 34,400 \
\hline 2017 & 47,500 & 38,000 \
\hline
\end{array}$$ (a) For each year, calculate saving at each level of income below.
(b) Calculate the marginal propensity to consume.
​

The Table Shows the Salary of a Construction Worker in Canada