Calculate total level of savings from new level of income

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Reference no: EM131342710

Assume that the apc is 0.9 and the mix is 0.8. The current level of a consumer's dis-posable income is $20,000, having risen from $19,000 in the past year due to lower government taxes. Calculate:

(a) the total level of savings from the new level of income

(b) the change in consumption that will result from the higher income now received.

Reference no: EM131342710

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