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2 years ago

If consumer income increases by $100 million in the united states and the mpc is .6, by how much will consumption increase?

1 answer:

3 0

The marginal propensity to consume (MPC) is a measure of the proportion of extra income that will be spent on consumption. If an individual receives an extra $100 and spends $60 on consumption then the personâ€™s MPC is 0.60. If consumer income in the United States increases by $100 million and the MPC is 0.60 consumption in the US will increase by $60 million.

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1 year ago

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The number of bananas that Joey purchased would be represented on a number line with digits 0 to 10 by marking point 9 with a dot (circle) as shown in the image attached.

Let the number of bananas be B.

Given the following data:

A dozen oranges = $3. 50

Bananas = $0. 25

Total cost = $5.75

Note: A dozen oranges is equal to 12 oranges.

To determine the number line that best represents the number of bananas Joey purchased:

First of all, we would calculate the number of bananas that Joey purchased:

$3.50 +0.25B =5.75\\\\0.25B =5.75-3.50\\\\0.25B =2.25\\\\B=\frac{2.25}{0.25}$

B = 9 bananas.

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