The Patel family has a disposable income of $70,000 annually. Assume that their marginal propensity to consume is 0.8 (the Patel family spends 80% of new disposable income on consumption) and that their autonomous consumption spending is equal to $10,000. What is the amount of the Patel family's annual consumer spending?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The Patel family has a disposable income of $70,000 annually. Assume that their marginal propensity to consume is 0.8 (the Patel family ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
On January 1, Bonita Industries has a beginning cash balance of $40000. During the year, the company expects cash disbursements of $300000 and cash receipts of $240000. If Bonita requires an ending cash balance of $42000, the company must borrow
Answers (1)
What are the major external and internal drivers of change in your organization?
Answers (1)
Bonnie, who is single and itemizes deductions, reports a zero taxable income for 2018. She incurs positive timing adjustments of $200,000 and AMT exclusion items of $100,000 for the year. What is Bonnie's AMT credit carryover to 2019?
Answers (1)
Suppose that borrowing is restricted so that the zero-beta version of the CAPM holds. The expected return on the market portfolio is 14%, and on the zero-beta portfolio it is 7%. What is the expected return on a portfolio with a beta of 0.5?
Answers (1)
Duo Company manufactures two products, Uno and Dos. Contribution margin data follow. Uno Dos Unit sales $ 13.00 $ 31.00 Less variable cost: Direct material $ 7.00 $ 5.00 Direct labor 1.00 6.00 Variable overhead 1.25 7.
Answers (1)
New Questions in Business
Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly.
Answers (1)
One might infer from a debit balance in allowance for doubtful accounts that
Answers (1)
Lee has not been showing up to work on time. which work ethic is he lacking
Answers (1)
Peterson Company estimates that overhead costs for the next year will be $3,400,000 for indirect labor and $850,000 for factory utilities. The company uses machine hours as its overhead allocation base.
Answers (1)
If you are in sydney, australia, and plan to attend a web conference being held at 10:00am us pacific daylight time (pdt) on 29 may 2012, at what local time do you need to log in?
Answers (1)