67. Consumption Expenditures In Keynesian macroeconomic theory, total consump- tion expenditure on goods and services, C, is assumed to be a linear function of national personal income, I. The table gives the values of C and I for 2013 and 2017 in the United States (in billions of dollars). Year 2013 2017 Total consumption (C) $11,317 $13,321 $14,495 $16,756 National income (1) Data from U.S. Bureau of Economic Analysis. (a) Find a formula for C as a function of 1.

Algebra and Trigonometry (6th Edition)
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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
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67. Consumption Expenditures In Keynesian macroeconomic theory, total consump-
tion expenditure on goods and services, C, is assumed to be a linear function of
national personal income, I. The table gives the values of C and I for 2013 and 2017
in the United States (in billions of dollars).
Year
2013
2017
Total consumption (C) $11,317 $13,321
$14,495 $16,756
National income (I)
he sitele
Data from U.S. Bureau of Economic Analysis.
(a) Find a formula for C as a function of I.
Transcribed Image Text:67. Consumption Expenditures In Keynesian macroeconomic theory, total consump- tion expenditure on goods and services, C, is assumed to be a linear function of national personal income, I. The table gives the values of C and I for 2013 and 2017 in the United States (in billions of dollars). Year 2013 2017 Total consumption (C) $11,317 $13,321 $14,495 $16,756 National income (I) he sitele Data from U.S. Bureau of Economic Analysis. (a) Find a formula for C as a function of I.
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