The table below shows data for three fictitious countries. a. Compute the current MPC for each country. Instructions: Round your answers to two decimal places. Income and Consumption Data, Three Countries Change in Income (dollars) $8,900 30,400 5,120 Change in Consumption (dollars) $4,461 18,750 3,840 Country Adrup Bedrup Cedrup b. Which country has the highest marginal propensity to save (MPS)? (Click to select) c. If income in Bedrup increases by $240 and income in Cedrup increases by $480, which of the following statements is correct? MPC O Neither Bedrup nor Cedrup will save any dollars. O Bedrup will save more dollars. O Cedrup will save more dollars. O Dollar savings will be the same for both Bedrup and Cedrup.

The table below shows data for three fictitious countries. a. Compute the current MPC for each country. Instructions: Round your answers to two decimal places. Income and Consumption Data, Three Countries Change in Income (dollars) $8,900 30,400 5,120 Change in Consumption (dollars) $4,461 18,750 3,840 Country Adrup Bedrup Cedrup b. Which country has the highest marginal propensity to save (MPS)? (Click to select) c. If income in Bedrup increases by $240 and income in Cedrup increases by $480, which of the following statements is correct? MPC O Neither Bedrup nor Cedrup will save any dollars. O Bedrup will save more dollars. O Cedrup will save more dollars. O Dollar savings will be the same for both Bedrup and Cedrup.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 13RQ: Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what...

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