Given the consumption function below C = α + βY, if β is 0.4, how can it be interpreted? Select one: a. Out of any additional income, Consumption increases by 4% b. Out of any additional income, consumption increases by 40% c. Out of any additional income, Consumption increases by 60% d. Out of any additional income, Consumption increases by 0.4%

1. Which of the following equations is the correct expression of the IS curve? ao+Bo-B₁i+G a. Y = b. Y= C. d. Y= 1-α₁ (1-t) C+I+G Y = 1-a₁ (1-1) ao+Bo-B₁i+G 1+α₁ (1-t) C+I+G 1+a₁ (1-1)

Explain which of the following is the independent variable and which is the dependent variable for each of the following examples. Once you determine the price of a flash drive at the college bookstore, you will decide how many flash drives to buy. You will decide how many credit hours to register for this semester once the university tells you how many work-study hours you will be assigned. You anticipate earning a higher grade on your economics exam because you studied more hours in the weeks preceding the exam.