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Question 1

Consider the following infomation in the table below.

Income (Y)Consumption (C)Savings (S)
1000780220
1240948292
14801116364
17201284436

Given this data the consumption function can be written as:

C = + Y

Hint


Question 2

Consider the following consumption fuction:

C = 30 + 0.9*Y

What is the level of autonomous consumption?

 

Hint


Question 3

Consider the following consumption fuction:

C = 30 + 0.9*Y

What is the MPC?

 

Hint