Suppose the Consumption Function Is C = $500 + 0

question 57

Multiple Choice

Suppose the consumption function is C = $500 + 0.8Y. If Y = $1,000, what is the amount of consumption?

• A) $300
• B) $500
• C) $1,000
• D) $1,300

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Definitions:

Neutralization

A chemical reaction in which an acid and a base react quantitatively to form water and a salt, effectively balancing the acid and base.

HCl

Hydrochloric acid, a strong corrosive acid that is a solution of hydrogen chloride in water, used in industrial and manufacturing processes.

NaOH

Sodium hydroxide, a strong alkaline compound used in the manufacturing of various products, such as paper, textiles, and soaps.

KBr

Potassium Bromide, a chemical compound used in photography, pharmaceuticals, and as a sedative in veterinary medicine.