Mathematics, 04.08.2021 18:10 taralynnn8870
A famous theory in economics developed by John Maynard Keynes states that consumption expenditures are a linear equation of disposable income. An economist wishes to develop a model that relates income and consumption and obtains the following information. In 2010 personal disposable income was $7199 billion and personal consumption expenditures were $6732 billion. In 2015 personal disposable income was 9523 billion and personal consumption expenditures were $9262 billion.
A.) find a linear equation that relates personal consumption expenditures, y, to disposable income, x.
B.) In 2013, personal disposable income was 9743 billion. Use this information to predict personal consumption expenditures in 2013.
C.) Interpret the slope as a rate of change in the context of the problem. In economics
, this slope is called the marginal propensity to consume.
d.) If personal consumption expenditures were $9528 billion what do you think do you think the disposable income was?
Answers: 2
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Asystem of linear equations contains two equations with the same slope. select all of the correct statements. i a. the system may have two solutions. - b. the system may have infinitely many solutions. c. the system may have one solution. o d. the system may have no solution. submit
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You just purchased two coins at a price of $670 each. because one of the coins is more collectible, you believe that its value will increase at a rate of 7.1 percent per year, while you believe the second coin will only increase at 6.5 percent per year. if you are correct, how much more will the first coin be worth in 15 years?
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A famous theory in economics developed by John Maynard Keynes states that consumption expenditures a...
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