Consumption
Booberry22
Question
1. (Consumption) Use the following data to answer the questions below:
|
Consumption Real Disposable Income (billions) |
Expenditures (billions) |
Saving (billions) |
|
$100 |
$150 |
$ |
|
$200 |
$200 |
|
|
$300 |
$250 |
|
|
$400 |
$300 |
a. Graph the consumption function, with consumption spending on the vertical axis and disposable income on the horizontal axis.
b. If the consumption function is a straight line, what is its slope?
c. Fill in the saving column at each level of the income. If the saving function is a straight line, what is its slope?
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