The U.S national consumption function(in billion dollar) for 2012 , If the marginal propensity to consume is can be modeled by d C d y = 0.0169 y + 0.617 where, y represents the disposable income (in billion dollar).

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Answer 1

Question

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

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Disposable income is the amount left after taxes have been paid and is one measure of the health of the economy. The following table gives the total U.S. disposable income (in billions of 2005 dollars) for selected years from 2010 and projected to 2040. Year 2010 2015 2020 2025 2030 2035 2040 Income (billions) $10,017 $11,120 $12,655 $14,259 $15,948 $17,752 $19,785 (a) Use x as the number of years past 2010 and write the equation of the quadratic function that best models these data. (Round all numerical values to one decimal places.) y(x) = (b) What does the model predict for the disposable income (in billions of dollars) in 2024? (Round your answer to one decimal place.) billion dollars

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Income ($ billions) Disposable income is the amount left after taxes have been paid and is one measure of health of the economy. The table gives the total disposable income for a country, in billions of dollars, for selected years from 2010 and projected to 2040. Year 2010 10.939 2015 11.521 2020 12.365 2025 14.124 Complete parts (a) through (c) below. 2030 15.811 2035 17.117 2040 19.522 a. Can this data be fitted exactly by a linear model? O A. Yes. The first differences are constant for uniform inputs. O B. Yes. Each first difference is double the previous first difference for uniform inputs. de O C. No. The data do not include every year between 2010 and 2040. nts O D. No. The first differences are not constant for uniform inputs. tess Click to select your answer and then click Check Answer. ccess 2 parts remaining a Library ClearAN e Options OK Type here to search Bb F2 F3 F4 F5 F6 F8 F9 F10 F1 %23 & 3 7 R T. Y S. F K V Retry OK 44 D

Answer 2

Question

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

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Answer 3

Question

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

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Answer 4

Question

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

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Answer 5

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

Answer 6

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

Answer 7

Chapter 12.4, Problem 29E

(a)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

Answer 8

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

Answer 9

(b)

To determine

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

Answer 10

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

Answer 11

(c)

To determine

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 12.1 - 1. True or false: (a) (b) Ch. 12.1 - Prob. 2CP Ch. 12.1 - 1. If what is Ch. 12.1 - Prob. 2E Ch. 12.1 - Prob. 3E Ch. 12.1 - Prob. 4E Ch. 12.1 - Prob. 5E Ch. 12.1 - Evaluate the integrals in Problems 5-28. Check...Ch. 12.1 - Prob. 7E Ch. 12.1 - Evaluate the integrals in Problems 5-28. Check...

The U.S national consumption function(in billion dollar) for 2012 , If the marginal propensity to consume is can be modeled by d C d y = 0.0169 y + 0.617 where, y represents the disposable income (in billion dollar).

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To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

To calculate: The U.S national consumption function(in billion dollar) for 2012, If the marginal propensity to consume is can be modeled by dCdy=0.0169y+0.617 where, y represents the disposable income (in billion dollar).

Comparison between the equations C¯(y)=0.0845y2+0.617y+2.75 and C¯(y)=0.0845y2+0.617y+2.43 and, the name of the function which would be good model for these data.

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