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Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 27
Suppose that C = a + bY , where C = consumption, a = consumption at zero income, b = slope, and Y = income.
a. Are C and Y positively related or are they negatively related?
b. If graphed, would the curve for this equation slope upward or slope downward?
c. Are the variables C and Y inversely related or directly related?
d. What is the value of C if a = 10, b =.50, and Y = 200?
e. What is the value of Y if C = 100, a = 10, and b =.25?
a. Are C and Y positively related or are they negatively related?
b. If graphed, would the curve for this equation slope upward or slope downward?
c. Are the variables C and Y inversely related or directly related?
d. What is the value of C if a = 10, b =.50, and Y = 200?
e. What is the value of Y if C = 100, a = 10, and b =.25?
Explanation
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Two variables are positively or directly...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
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