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- Figure 2 C3 C2 C1 45° Y2 Y1 Aggregate income Aggregate savingAssume the following consumption schedule: C= 20 + 0.9 Y, where C is consumption and Y is disposable income. At $1,100 level of disposable income: (show your cacuators) a. Find out the level of saving and consumption? b. How much are the APC and APS (to one decimal place)? c. If dispr able income increased to $2,800 and saving is $345 now. What are MPC and MPŚ (to two decimal places)?State 3 characteristic of the consumption function ?
- What is the vertical intercept of the consumpation function that represents the portion ofconsumption expenditure not associated with a level of disposable income?a. Consumption interceptb. Disposable income intercept c. Autonomous consumption d. Automatic consumption line2. Briefly explain how individuals can adjust their current and future consumption according to their preferences.The accompanying graph represents the aggregate consumption function for the small island nation of Pineapple Paradise. The people of Pineapple Paradise expect their future 10,000 disposable income to increase. Use the graph to show an 9,000 increase in consumption expenditures. 8,000 7,000 What is the new level of aggregate autonomous consumer ,000 Aggregate Consumption Function spending? ,000 $2000 4,000 $4000 3,000 $1000 O $3000 2,000 1,000 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Disposable Income Çonsumer Spending,
- assume you are given a $100 raise, and decide to save $20 of that money. also assume that if you make zero income in a year, you will still spend $7000. a.) what is your consumption function? b.) if you earn $20000 in a year how much will you spend? c.) will you be able to save while earning the above income?A Moving to another question will save this response. Question 12 Assume the following consumption schedule: C= 20 + 0.9 Y, where C is consumption and Yis disposable income. At $1,100 level of disposable income: (show your calculations) a. Find out the level of saving and consumption? b. How much are the APC and APS (to one decimal place)? ( c. If disposable income increased to $2,800 and saving is $345 now. What are MPC and MPS (to two decimal places)? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt A V 血 x² X2 深| T [区 田田 田E图|言()Consumption and Savings Functions Disposable Income Consumption Saving -50 100 200 400 a. Please complete the table (assume linear functions) b. How much is Autonomous Consumption and Autonomous Savings? C. How much is mpc, mps, and E ? Write out the consumption funetion and the savings function, Using the data from the table, please graph the consumption and savings schedules in a model. d. e. For an increase in disposable income of $2000, using the current mpc, show five rounds of increases in planned expenditure. f.
- Which of the following is not a valid expenditure function? OU P.P, O UP, O None of these can be expenditure functions O (P. + P,) VŨ P+POne of these four answers best explains the effect of disposable income on consumption. Which one? O Disposable income does not determine consumption. O Disposable income is the most powerful determinant of income and determines how much an individual consumes. O When an individual has more disposable income, he or she is likely to consume less. O Disposable income is an important determinant of expected future income.Fill in the aggregate saving column in the following table. (Include a minus sign if necessary.) Aggregate Income, Y $0 100 200 300 400 500 600 Aggregate Consumption, C $200 250 300 350 400 450 500 The value of the MPC is one decimal place.) T Aggregate Saving, S $-200 150 100 50 0 50 100 (Round your response to CXIE DE Aggregate consumption, C Aggregate saving, S 700- 600- 500- 400 300- 200 100- 0 -100- -200- 300- -400- 100 200 300 400 500 Aggregate income, Y 600