ECON 104 HW1.docx - Score for this quiz 100 out of 100 Submitted May 21 at 4:59pm This attempt took 32 minutes Part 1 20 questions worth 3 points each

# ECON 104 HW1.docx - Score for this quiz 100 out of 100...

This preview shows page 1 - 4 out of 15 pages. C = 930 + .60 Yd C = 720 + .65 YdC = 765 + .64 Yd C = 880 + .60 YdQuestion 43 / 3 ptsNow suppose disposable income (Yd) falls due to a tax increase (Uncle Sam istrying to balance the budget) to 1800. Solve for the level of consumption using the equation you found in question #3. Consumption (C) is equal to:Question 53 / 3 ptsNow we will calculate the level of consumption that would have occurred if Uncle Sam did not raise taxes. In other words, use the equation you found in question 3, but keep Ydat its original value of 2000. Consumption (C) is equalto:Question 63 / 3 ptsLook at the consumption values you calculated in #2 and #4. The percent change in consumption between those values is: _________%NOTE:There is no graphing component to be collected for this homework. However, you should be comfortable graphing the equations you found in #1and #3. You should also be able to plot the points you found in #2, #4 and #5.NOTE: There is no graphing component to be collected for this homework. However, you should be comfortable graphing the equations you found in #1 and #3. You should also be able to plot the points you found in #2, #4 and #5. Question 73 / 3 ptsUse the table below for questions 7 & 8.Let’s consider some data on consumption and disposable income from the Federal Reserve Database (measured in billions of dollars)Real Personal ConsumptionExpendituresReal Disposable  #### You've reached the end of your free preview.

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