A nation's consumption function (expressed in millions of inflation-adjusted dollars) is
C = $800 + 0.80Y.
There are no taxes in this nation.
Now answer the following questions:
1. What is the value of autonomous saving?
2. What is the value of the multiplier?
C = $800 + 0.80Y.
There are no taxes in this nation.
Now answer the following questions:
1. What is the value of autonomous saving?
2. What is the value of the multiplier?
