Question

In: Economics

The purpose of this assignment is to depict how your own consumption (and savings) behavior might...

The 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).

Consumption/Savings Data Table

Table 1: Consumption/Savings Data

Student

$1,250.00

$1,500.00

$1,750.00

$2,000.00

$2,250.00

1

$0.00

$50.00

($50.00)

($50.00)

$50.00

2

$100.00

$150.00

$100.00

$100.00

$100.00

3

$500.00

$625.00

$700.00

$875.00

$1,025.00

4

$125.00

$150.00

$175.00

$200.00

$225.00

5

$390.00

$520.00

$790.00

$920.00

$870.00

6

$70.00

$100.00

$150.00

$200.00

$250.00

7

$50.00

$100.00

$0.00

$50.00

$0.00

8

$200.00

$450.00

$450.00

$550.00

$550.00

Average S

179.37

268.12

289.37

355.62

383.75

Proportion of DI

Change in S

Average C

1070.62

1231.84

1460.62

1644.37

1866.25

Proportion of DI

Change in C

Check: S+C=DI

Sum proportions=1

Change in DI

MPS=chgS/chgDI

MPC=chgC/chgDI

Check:MPS+MPC=1

Solutions

Expert Solution

a-i would like to change the no confidence stafe of my life and for that I would like to give me 2 points this is the reason of lack of confidence i am not able to do my work in a proper way that seems bad but it is required to get change by me in any way that is supposed to be done by me .

definitely yhese change swould take time to get to the point but these take some health issues to get good hence in nay way it will affect my body and mind therefore im ready to take any medicine but I have to do it whatever happens to me

2-The reaon why i was not able to do that was because every human being is not so powerful to do what he wants to do hence we all try to get the maximum what in that situation we are thus it happens to us that we are not at all care that time because its like our love for them and our state that we dont want to vjange but we actually get them hence it affects us in all the way from mind to heart but we are paralysed before it.yes we have availaible resources to get way from it because it require medicine as welll as emotional help which can be availaible if find.

3-Yes there are times when I donot find myself busy i got to get disturbed a bit thus I get distracted and my behavior changed very much this in order to remove that i nedd to go to walking doing exercise which relieves a lot to me during that time hence we made ourselves the fit the better we feel takin sedative so as to get good sleep is atmost important in any way,This is the reason the goal that can be set is running at least 1 hour daily in the evening which also reduces hypertension ,.


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