(Answered) 1 explain the difference between autonomous and induced

Management Studies

1. Explain the difference between autonomous and induced expenditures. Give examples of each.

2. Suppose the following information describes a simple economy. Figures are in billions of dollars.

Disposable personal income Consumption

0 100

100 120

200 140

300 160

a. What is the marginal propensity to consume?

b. What is the marginal propensity to save?

c. Write an equation that describes consumption.

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