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Category > Management Posted 04 Feb 2018 My Price 8.00

consumption function captures


The consumption function captures one of the key relationships in economics that was first developed by john Maynard Keynes. It expresses consumption as a function of disposable income, where disposable income is income after taxes. The table below shows a portion of average U.S. annual consumption and disposable income for the years 1985-2006. The complete data set can be found on the text website, labeled Consumption function.

 

When estimating the model: Consumption = β0 + β1 Disposable Income + ε, the following output is produced.

a. Use Excel to replicate the above regression output.

b. What is the sample regression equation?

c. In this model the slope coefficient is called the margin a l propensity to consume. Interpret its meaning.

d. What is predicted consumption if disposable income is $57,000?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Feb 2018 06:02 PM My Price 8.00

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