The way of consumption function have shifted when congress enacted tax law changes to promote savings.

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Chapter 8, Problem 7DQ

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To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

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What does it mean by the logic: When output is too low, what needed is an increase in demand for goods and services. Investment is one component of demand, and saving equals investment. Therefore, if the government could just convince households to attempt to save more, then investment and output would increase.

If the marginal propensity to save increases, what happens to the consumption function?

If saving dropped sharply in the economy, what would likely happen to investment? Why?

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Question

Chapter 8, Problem 7DQ

To determine

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

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Answer 3

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Chapter 8, Problem 7DQ

To determine

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

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Answer 4

Question

Chapter 8, Problem 7DQ

To determine

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

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Answer 5

Chapter 8, Problem 7DQ

To determine

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

Answer 6

Chapter 8, Problem 7DQ

To determine

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

Answer 7

Chapter 8, Problem 7DQ

To determine

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

Answer 8

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Answer 11

Ch. 8.A - Prob. 1TY Ch. 8.A - Prob. 2TY Ch. 8.A - Prob. 3TY Ch. 8.A - Prob. 1DQ Ch. 8.A - Prob. 2DQ Ch. 8.A - Prob. 3DQ Ch. 8 - Prob. 1TY Ch. 8 - Prob. 2TY Ch. 8 - On a piece of graph paper, construct a consumption...Ch. 8 - Prob. 4TY

The way of consumption function have shifted when congress enacted tax law changes to promote savings.

Solution Summary: The author describes the consumption function as an economic model describing the functional relationship between total consumption and gross national income.

To describe: The way of consumption function have shifted when congress enacted tax law changes to promote savings.

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