Refer to the information provided in Table 36.3 below to answer the question(s) that follow. Table 36.3 PointAggregate Income (Y)Aggregate Consumption (C)  A  15  19   B  30  23  C  45  27  D  60  31  E  75  35   F  90  39The data in the table was used to estimate the following consumption function: C = 20 + 0.2YRefer to Table 36.3. The error for point C is equal to

A. -2.
B. 0.
C. +2.
D. +4.


Answer: C

Economics

You might also like to view...

What is the most significant cost of attending medical school?

a. Tuition and fees. b. Books and incidentals. c. The income foregone. d. Room and board. e. Pain and suffering.

Economics

The marginal product of labor measures: a. the total amount of output produced by all workers combined

b. the quantity of an intermediate product that is combined with labor to produce output. c. the amount of output an additional worker contributes to a firm's total output. d. the average productivity of workers hired by a firm.

Economics

An example of physical capital is:

A. a computer. B. a pen. C. a factory. D. All of the items are examples of physical capital.

Economics

Economists consider the long run as a period of more than one year.

Answer the following statement true (T) or false (F)

Economics