For Each of the Following State the Level of Autonomous

question 15

Essay

For each of the following state the level of autonomous expenditures and induced expenditures.
(a)Given the following table and income equals $200.
$$\begin{array} { | r | r | } \hline \text { Income } & \text { Eighenditures } \\\hline 0 & 100 \\\hline 100 & 150 \\\hline 200 & 200 \\\hline 300 & 250 \\\hline\end{array}$$ (b)Given the following expenditures function AE = $4,000 + 0.6Y and income equals $1,000.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good which consumers are willing to purchase at different prices.

Deadweight Loss

A loss of economic efficiency that occurs when equilibrium for a good or service is not achieved or is not achievable.

Per-Unit Tax

A tax that is levied on a product based on a fixed amount per unit sold, not based on the value of the product.

Quantity Tax

A tax that is levied on a specific amount or quantity of a good or service, rather than on its value.