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Consider the following information about the kingdom of Florin

Consider the following information about the kingdom of Florin:

Disposable Income

Consumption Expenditure

(millions of gold florins per year)

0

10

100

50

200

90

300

130

400

170

500

210

 
  1. What is Florin’s marginal propensity to consume ?
  2. What is Florin’s marginal propensity to save ?
  3. Calculate consumption and savings at each level of disposable income.
  4. Why does Michael the T.A.’s old,  racistgreat-grandfather, Balthazar Rhodes Wrathwright;  hero of the BoerWar, refer to them as skin flints and other names that can’t be printed here?

May 24 2018 View more View Less

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