Use the table belowto solve this problem. Level of Output and Income Consumption
ID: 1244336 • Letter: U
Question
Use the table belowto solve this problem.
Level of Output
and Income
Consumption
Saving
APC
APS
MPC
MPS
$480
$488
$-8
1.0167
-0.0167
0.8
0.2
520
$524
-4
1
0
0.8
0.2
560
$560
0
0.9857
0.0143
0.8
0.2
600
$596
4
0.9733
0.0267
0.8
0.2
640
$632
8
0.9625
0.0375
0.8
0.2
680
$668
12
0.9529
0.0471
0.8
0.2
720
$704
16
0.9444
0.0556
0.8
0.2
760
$740
20
0.9368
0.0632
0.8
0.2
800
$776
24
0.93
0.07
0.8
0.2
Level of Output
and Income
Consumption
Saving
APC
APS
MPC
MPS
$480
$488
$-8
1.0167
-0.0167
0.8
0.2
520
$524
-4
1
0
0.8
0.2
560
$560
0
0.9857
0.0143
0.8
0.2
600
$596
4
0.9733
0.0267
0.8
0.2
640
$632
8
0.9625
0.0375
0.8
0.2
680
$668
12
0.9529
0.0471
0.8
0.2
720
$704
16
0.9444
0.0556
0.8
0.2
760
$740
20
0.9368
0.0632
0.8
0.2
800
$776
24
0.93
0.07
0.8
0.2
Explanation / Answer
a) new level of consumption= 668-320*2/10=604 savings=680-604=76
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