Given a consumption function C = 10 + 0.6Y, determine the...
Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20
36.60
22.00
30.60
26.00
Correct answer is B
Given C = 10 + 0.6Y when Y = 20
Substitute for the value of Y in the equation to calculate the actual value for C
Therefore, C = 10 + 0.6(20)
C = 10 + 12
C = 22.00
An entrepreneur is encouraged to adopt division of labour in production because it ...
The curve labeled II illustrates a system of taxation ...
When an economy is having a balance of payment surplus the best alternative opened to it is to ...
A tax on a commodity whose supply is perfectly inelastic is ...
A limited liability company is owned by the ...