Refer to the information provided in Figure 23.4 below to answer the question(s) that follow.
Figure 23.4Refer to Figure 23.4. Suppose the consumption function for C1 is [C1 = 15 + 0.4Y]. The consumption function that best fits C3 is
A. C3 = 30 + 0.25Y.
B. C3 = 20 + 0.8Y.
C. C3 = 20 + 0.4Y.
D. C3 = 15 + 0.75Y.
Answer: D
You might also like to view...
Since 1970, the federal government budget has never been in surplus
a. True b. False Indicate whether the statement is true or false
If Congress decides to increase the tax per pack paid by sellers of cigarettes, other things being equal, the price of cigarettes will rise. This rise in prices can be attributed to a(n):
a. upward movement along the supply curve for cigarettes. b. rightward shift of the supply curve for cigarettes. c. upward movement along the demand curve for cigarettes. d. leftward shift of the supply curve for cigarettes.
Arable land, water, machinery, and a professional baseball player are all considered scarce economic _______________ used in the production of goods and services.
Fill in the blank(s) with the appropriate word(s).
In Figure 22.2 and ignoring any possible externalities, the net benefit to society of this market is 
A. 0P*CQ* B. ABC C. 0BCQ* D. BP*C