https://newconnect.mheducation.com/flow/connect.htmlomeworkiHelpSavedData for output (real income) and saving are presented in the table belowa. Fill in the missing numbers (gray-shaded cells) in the table.Instructions: In the table, round your answers to 4 decimal places. If you are entering any negative numbers be sure to include anegative sign ) in front of those numbersLevel of Output andIncome (GDP DI)APSAPCSavingConsumption$2401026042803001232016340203602438028400What is the valije nf the marninal nrnnensity tn conciimerNextof 16K Prev

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Asked Oct 15, 2019
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A) What is the value of the marginal propensity to consume? ( Round your answers to one decimal place). What is the value of the marginal propensity to save? 

B) What is the break-even level of income in the table? (Enter your answer as a whole number)

What is the term that economists use for the saving situation shown at the $ 240 level of income. 

C) For each of the following items, indicate wheter the value in the table is either constant or variable as income changes: 

The MPS is (constant/ variable) as income changes. 

The APC is ( constant/ variable) as income changes. 

The MPC is ( constant/ variable) as income changes. 

The APS is (constant/ variable) as income chnages.  

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Saved
Data for output (real income) and saving are presented in the table below
a. Fill in the missing numbers (gray-shaded cells) in the table.
Instructions: In the table, round your answers to 4 decimal places. 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)
APS
APC
Saving
Consumption
$240
10
260
4
280
300
12
320
16
340
20
360
24
380
28
400
What is the valije nf the marninal nrnnensity tn conciimer
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of 16
K Prev
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https://newconnect.mheducation.com/flow/connect.html omeworki Help Saved Data for output (real income) and saving are presented in the table below a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, round your answers to 4 decimal places. 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) APS APC Saving Consumption $240 10 260 4 280 300 12 320 16 340 20 360 24 380 28 400 What is the valije nf the marninal nrnnensity tn conciimer Next of 16 K Prev

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Expert Answer

Step 1

The completed table is shown below:

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Level of output and Consumption (C) income (DI) = income APC= (C/DI) APS= (S/DI) Savings (S) -savings 1.0167 240 244 -4 0.0164 1.0000 260 260 0 0.0000 280 276 4 0.9857 0.0145 292 300 0.9733 0.0274 320 0.0390 308 12 0.9625 340 324 16 0.9529 0.0494 360 340 20 0.9444 0.0588 380 356 24 0.9368 0.0674 400 372 28 0.9300 0.0753

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Step 2

a)

MPC = Change in consumption / Change in income

Here, the change in income and change in consumption is constant that is income changes by $20 and consumption changes by $16 every time.

So, MPC= 16/20 = 0.8

MPS= 1- MPC

Or, MPS = 1-0.8 = 0.2

Step 3

b)

The break-even level of income is $260 where inco...

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