Answer to Question #107049 in Macroeconomics for KB

Question

he purpose of this assignment is to depict how your own consumption (and savings) behavior might be affected if your own income were to change. View a comparison to your classmates’ data to identify if a pattern occurs. For this assignment, we have the data collected from 8 students who completed the Consumption table that you completed in Week 01. Using the table provided of the consumption and savings data from 8 students last week, complete the table. Then, answer the following questions in addition to submitting the completed table calculations. After comparing your data to that of your classmates, determine if consumption and saving behavior change with economic circumstances, other than income? Provide examples. How can consumption become part of an aggregate expenditure function? Create a graph of the aggregate demand curve, plotting average consumption (C) and average savings (s).

Answer 1

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