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
|
- What is Florin’s marginal propensity to consume ?
- What is Florin’s marginal propensity to save ?
- Calculate consumption and savings at each level of disposable income.
- 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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