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The following table shows consumption data for various levels of real disposable income.
The following table shows consumption data for various levels of real disposable income.
Using the numbers in the table, calculate and enter the amount of saving at each level of real disposable income.
Real Disposable IncomeConsumptionSaving(Dollars)(Dollars)(Dollars)100160200240300320400400500480
Based on the numbers in the table, the value of the marginal propensity to consume (MPC) is.
Based on the numbers in the table, the value of the marginal propensity to save (MPS) is.
The break-even level of income is .
The expression that best describes the relationship between MPC
MPC and MPS
MPS is:
MPC+MPS=0
MPC+MPS=0
MPC+MPS=1
MPC+MPS=1
MPC+MPS>1
MPC+MPS>1
MPC+MPS<1
