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 APC APS MPC MPS $240 $-2 260 280 2 300 4 320 6 340 360 10 380 12 400 14 Instructions: Enter your answer as a whole number. 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 $240 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) v The APS: (Click to select)
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 APC APS MPC MPS $240 $-2 260 280 2 300 4 320 6 340 360 10 380 12 400 14 Instructions: Enter your answer as a whole number. 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 $240 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) v The APS: (Click to select)
Chapter19: The Keynesian Model In Action
Section: Chapter Questions
Problem 3SQ
Related questions
Question
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
APC
APS
MPC
MPS
$240
$-2
260
280
2
300
4
320
6
340
8
360
10
380
12
400
14
Instructions: Enter your answer as a whole number.
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 $240 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)
The APC: (Click to select) v
The MPC: (Click to select) v
The APS: (Click to select) v
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