|Output||Taxes||Disposable Income||Consumption Spending||Saving Planned||Investment||Government Purchases||Planned Aggregate Expenditure Unplanned Inventory||Change|
Assume that the consumption function for the above economy is C = 1000 + .80Yd
Fill in the empty cells.
Output implies the resultant item or commodity from several inputs and raw materials. The firms produce output because they have to sell it in the market and earn revenue against it.
Answer and Explanation: 1
The consumption function can fill the table. Calculating each element individually:-
- Disposable Income
The disposable income can be estimated as...
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fromChapter 45 / Lesson 2
Learn about consumption in economics. Read examples of consumption in economics and find out 4 types of consumption in economics, what affects it, and how it is measured.