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6 October, 17:19

Given that c=$500 + 0.8yd, if the level of disposable income is $1,000, the level of saving is a) $300. b) - $300 c) $500 d) - $1,300

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  1. 6 October, 17:36
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    If we are given with the level of saving as a function of level of disposable income:

    c = 500 + 0.8 d

    where d is the disposable income and it is equal to 1000. Solving for c:

    c = 500 + 0.8 (1000)

    c = $1300
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