Multiple Choice
(Advanced analysis) Answer the question on the basis of the following data for a private closed economy.The letters Y,C,S,and I are used to represent real GDP,consumption,saving,and investment respectively. The equation representing the consumption schedule for the economy is:
A) C = Y - .6S.
B) Y = C + S.
C) C = 60 + .4Y.
D) C = 60 + .6Y.
Correct Answer:

Verified
Correct Answer:
Verified
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