b. What is the break-even level of income in the table? What is the term that economists use for the saving situation shown at the $480 level of income? (Click to select) ♥ c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes: The MPS: (Click to select) V The APC: (Click to select) The MPC: (Click to select) ♥ The APS: (Click to select) V

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The following table provides data for output (real GDP) and saving.
a. Fill in the missing numbers (gray-shaded cells) in the table.
Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimal
places. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include a
negative sign (-) in front of those numbers.
Level of Output and
Income (GDP = DI)
Consumption
Saving
АРС
APS
MPC
MPS
$480
$-16
520
560
16
600
32
640
48
680
64
720
80
760
96
800
112
Instructions: Enter your answer as a whole number.
b. What is the break-even level of income in the table?
2$
What is the term that economists use for the saving situation shown at the $480 level of income?
|(Click to select) V
c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes:
The MPS: (Click to select) V
The APC: (Click to select) V
The MPC: (Click to select) V
The APS: (Click to select) ♥
Transcribed Image Text:The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimal places. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Level of Output and Income (GDP = DI) Consumption Saving АРС APS MPC MPS $480 $-16 520 560 16 600 32 640 48 680 64 720 80 760 96 800 112 Instructions: Enter your answer as a whole number. b. What is the break-even level of income in the table? 2$ What is the term that economists use for the saving situation shown at the $480 level of income? |(Click to select) V c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes: The MPS: (Click to select) V The APC: (Click to select) V The MPC: (Click to select) V The APS: (Click to select) ♥
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