Answered: Assume a consumption function that…

Assume a consumption function that takes on the following algebraic form: C = 100 + 0.8 Y. Assume that Y= 1450 what is the level of consumption at this income level.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter18: The Keynesian Model

Section: Chapter Questions

Problem 6SQ

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Assume a consumption function that takes on the following algebraic form: C = 100 + 0.8 Y. Assume that Y= 1450 what is the level of consumption at this income level.

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