If Consumption C Is $1 Billion When Disposable Income Y

question 83

Multiple Choice

If consumption C is $1 billion when disposable income y is 0, and if the marginal propensity to consume is 0.60, find the national consumption function C as a function of y (in billions of dollars) . Round your answer to two decimal places. ​

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Definitions:

Abdomen

The part of the body that lies between the thorax (chest) and pelvis, housing many vital organs, including the stomach, liver, and intestines.

Large Intestine

The final section of the digestive system, responsible for absorbing water and electrolytes and forming and storing feces.

Digestion

The biological process by which food is broken down into smaller components, making nutrients available for absorption into the body.

Absorption

The process by which substances are taken up into or across tissues, such as the absorption of nutrients by the intestines.