Use the following data to work problems 1 and 2 you are, Ask an Expert

Economics

Use the following data to work Problems 1 and 2. You are given the following information about the economy of the United Kingdom.

Disposable income Consumption expenditure

(Billions of pounds per year)

300 340

400 420

500 500

600 580

700 660

1. Calculate the marginal propensity to consume.

2. Calculate saving at each level of disposable income and calculate the marginal propensity to save.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91236046

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