Savings equations a. Derive the savings equation for closed economies and open economies. b. Discuss the interpretation of each. Note on the potential sources of funding for Government Deficits and Investment with each. c. Discuss the impact on investment and foreign investment when: i. Government runs a surplus ii. Current Account runs a surplus.

Migration was made possible by the acceptance of Chinese concepts in Korea, and communication was made possible by Chinese metal moveable type.

The Korean dynasties were influenced by Chinese commerce goods and culture. Chinese influences can be found in Korean architecture, governmental structures, religious practises, and even musical instruments from the 4th century a.d. A few Chinese customs were altered and become wholly Korean.

The Tang had a profound impact on Korea in some ways. Chinese script was used by the Koreans for their own language. Martial arts like karate and tae kwon do have their roots in Chinese teachings, some of which eventually travelled to Japan. Following the 10th century, China continued to impact the world.

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In the absence of bankruptcy costs, Modigliani and Miller's theory suggests that the value of a levered firm increases as the level of debt increases due to the tax shield provided by the interest payments on debt.

Modigliani and Miller's theory suggests that the value of a firm is unaffected by its capital structure in the absence of bankruptcy costs. This means that the overall value of a firm will remain the same whether it is financed entirely by equity or a combination of debt and equity.

However, in the absence of bankruptcy costs, the value of a levered firm increases as the level of debt increases. This is because the interest payments on debt are tax-deductible, which provides a tax shield to the firm, reducing its overall tax liability. This tax shield leads to an increase in the value of the firm.

The formula used to demonstrate this theory is:

where:

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Option C: "He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people. " is the grievance against King George III most closely relates to why such an amendment was needed.

As per the ninth amendment, the listing of some rights in the Constitution shall not be interpreted as denying or demeaning other rights that the people may have. It has often dissolved Representative Houses for standing up to his infringement of the rights of the people with noble resolve."

James Madison tried to prevent the perception that the Bill of Rights merely granted the people of the United States the particular rights it addressed by proposing the Ninth Amendment. Others have taken this in recent years as confirming the existence of such "unenumerated" rights in addition to those that are specifically covered by the Bill of Rights.

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Correct question is:

The Ninth Amendment to the Constitution states, "The enumeration in the Constitution of certain rights shall not be construed to deny or disparage others retained by the people. "

Which grievance against King George III most closely relates to why such an amendment was needed?

A. "He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers. "

B. "For transporting us beyond Seas to be tried for pretended offences"

C. "He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people. "

D. "For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States"

We can use the annuity formula to solve this question. It's a formula used to compute the present value or future value of regular payments. It is also used to determine the regular payment needed to achieve a certain future value.

The annuity formula is given by: $$P=\frac{A[(1+i)^n-1]}{i}$$ ,where: P=Present value, A=Annuity (regular payments), i=Interest rate, n=Number of payments

(a)Since we're given the value of P and A, we can substitute them in the annuity formula and solve for n. So, substituting, we have: $$2000=\frac{100[(1+0.04)^n-1]}{0.04}$$. Multiplying by 0.04 on both sides of the equation, we have:$$80n=2000/0.04-100$$Simplifying further:$$80n=4500$$.

Therefore, the number of regular payments required to accumulate $2,000 is given by: n = 4500/80 = 56.25. The total number of regular payments required is 57 payments.

(b)The fractional payment can be calculated as the difference between the total amount of payments made and the actual amount needed to accumulate $2,000. Thus, the fractional payment can be obtained by subtracting the total amount of payments made ($100 × 57 = $5,700) from $2,000.The result will be the amount of the fractional payment.

Therefore, the fractional payment is: $2,000 - $5,700 = -$3,700 (Note: the value is negative because it indicates that an additional payment of $3,700 is required.)So the fractional payment should be $3,700.

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This proposal's goal is to propose three additional activities that the Staff Recreation Club could provide in the first quarter of 2023 to promote employee relationships in the wake of Covid-19's interruptions.

Staffing is a crucial managerial function, ranking above the likes of planning, organising, directing, and managing as the most crucial managerial act. The availability of manpower through the staffing function is necessary for the performance of these four functions.

Recruitment, selection, training and development, and performance evaluation are the four sequential processes in staffing an organisation for managerial or non-managerial positions.

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Conflict in the workplace can cause emotional stress on an employee in several ways. First, it can lead to feelings of anxiety and uncertainty, as employees may worry about the impact that conflict will have on their job security or their relationships with colleagues.

This can create a sense of emotional instability and make it difficult for employees to focus on their work.

Additionally, conflict can cause feelings of frustration and anger, particularly if an employee feels that they are being treated unfairly or if they are not being heard or respected by their colleagues or superiors. These negative emotions can further exacerbate stress and negatively impact an employee's mental health.

Conflict can also lead to a loss of motivation and productivity, as employees may feel demotivated and disengaged from their work in the face of ongoing conflict. This can create a cycle of negativity that can be difficult to break without intervention and resolution.

Thus, conflict in the workplace can have significant emotional and mental health consequences on employees, highlighting the importance of addressing conflict in a timely and constructive manner to promote a positive and productive work environment.

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The statement that "crime is quite normal and performs important functions for the operation of society" made by Emile Durkheim, is best suited to the structural-functional approach.

The structural-functional approach is a theoretical framework for viewing the relationship between society and the individuals within it, as well as between various social structures. This approach explains that society is a complex system that is comprised of various components or parts that function together to keep it running smoothly.

Society is seen as a living organism, where all components have a role to play, and it is maintained through consensus and equilibrium.

Emile Durkheim's structural-functional approach refers to the view that society's various social institutions are interdependent and operate together in a way that is comparable to the systems and organs of the human body.

It regards society as a complex system made up of various components that are closely linked and have a specific purpose to fulfill. Crime, according to Emile Durkheim, is a normal and necessary part of society because it serves a number of beneficial purposes in society.

Crime is believed to perform three primary functions: it contributes to social change, it assists in defining moral boundaries and promotes social unity, and it reinforces social norms and values.

In summary, the statement that "crime is quite normal and performs important functions for the operation of society" best describes the structural-functional approach of Emile Durkheim.

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Francisco's attachment status according to the attachment theory is insecurely attached.

When a child is insecurely attached, he or she may cry and not be comforted when the mother leaves the room. This type of child may show indifference toward their mother when they return or take a long time to settle back down. Therefore, one-year-old Francisco is insecurely attached as per the attachment theory.

Attachment theory is a developmental theory that proposes that attachment or a bond between a primary caregiver and an infant is vital for the infant's social and emotional development. The theory emphasizes the importance of developing a secure attachment between a child and a caregiver to promote the child's social and emotional development. When the attachment bond is not established, it may cause developmental difficulties for the child.

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a)The tropical rain forests biome is characterized by high temperatures, high humidity, and abundant rainfall throughout the year.

b)The tropical rainforest is characterized by tall trees with dense canopies and a wide variety of plant and animal species.

c)The tropical savanna biome has a distinct wet and dry season.

d)Deserts are found in areas where there is little precipitation and high evaporation rates

e)The Mediterranean woodland and shrub biome is characterized by mild, wet winters and hot, dry summers.

f)The midlatitude deciduous forest biome has hot summers and cold winters with moderate precipitation.

g)The tropical rainforest biome is known for having high species diversity.

h)The tundra biome is characterized by a layer of shor.

The tropical deciduous forest is characterized by trees that lose their leaves during the dry season, and the tropical scrub biome is characterized by short, shrubby plants and grasses.

During the wet season, there is abundant rainfall, and during the dry season, there is little to no rainfall.

Usually in regions with a subtropical high-pressure zone or along cold ocean currents. Deserts can be found on every continent except for Europe.

The vegetation is adapted to drought and includes evergreen shrubs and trees.

The tropical savanna biome has a distinct wet and dry season, while the midlatitude grassland biome has hot summers and cold winters with moderate precipitation throughout the year.

While the boreal forest biome has cold temperatures and low precipitation.

While the boreal forest biome has relatively low species diversity.

Grassy plants that are adapted to the cold temperatures and harsh conditions of the Arctic region. Trees are scarce in this biome.

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Note: The correct question would be as bellow,

a)What climate characteristics are most closely associated with the tropical rainforest biome?

b)Contrast the general characteristics of the tropical rainforest, tropical deciduous forest, and tropical scrub biomes.

c)Describe the seasonal patterns of the tropical savanna biome.

d)Describe and explain the global distribution of the desert biome.

e)Discuss the general climate characteristics and types vegetation associated with the mediterranean woodland and shrub biome.

f)What are the general differences in climate associated with the tropical savanna and midlatitude grassland biomes?

g)What are the general differences in climate associated with the midlatitude deciduous forest and boreal forest biomes?

h)Contrast the general species diversity in the tropical rainforest and boreal forest biomes. Describe the general vegetation cover found in the tundra biome

Answer:The energy that is released through a nuclear reaction or radioactive decay process. 

Explanation:

The standard of living in a country can be BEST measured by real GDP per capita. The answer is option b.

The standard of living is the degree of prosperity and financial security that a community, region, or nation enjoys. The standard of living is usually determined by aspects such as access to food, water, shelter, and health care, as well as education and work opportunities in developed nations.

The quality of life or standard of living is a vital component of the human development index, which is a measure of the overall development of countries.

The Human Development Index (HDI) is a composite metric developed by the United Nations Development Programme (UNDP) to measure the quality of life in countries around the world. Real GDP per capita is the most reliable and widely used measure of a nation's standard of living. It considers the GDP of a nation and divides it by the nation's population to get a rough estimate of how much each individual produces, which provides a better indication of how the population is actually doing.

The gross domestic product (GDP) is the total monetary or market value of all the goods and services produced by a nation or territory during a specified period. GDP per capita is calculated by dividing the total value of goods and services produced by a country by its population size.

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In the short-run, a firm incurring an economic loss in a perfectly competitive market should continue to operate if it can cover its variable costs.

This is because shutting down would result in incurring additional losses equal to its fixed costs. However, if the loss is so significant that it cannot even cover its variable costs, then it should shut down and exit the market.

2. In the long-run, if firms in the industry continue to incur economic losses, some of them will exit the market, reducing the supply of the product.

This reduction in supply will cause the market price to increase until it reaches the point where firms are earning zero economic profit, i.e., the minimum point on the average total cost curve. At this point, there will be no further incentive for firms to enter or exit the market, and the price will remain stable.

Regarding the two panels:

1. In Panel A, the firm should continue to operate in the short-run even though it is incurring an economic loss. The reason is that the price it receives (P1) is still higher than its average variable cost (AVC), which means it can cover its variable costs and avoid additional losses equal to its fixed costs.

2. In Panel C, the firm can generate more profit (or generate a profit if currently producing a loss) by producing a different quantity. The profit-maximizing quantity for a perfectly competitive firm is where marginal cost (MC) equals marginal revenue (MR). In Panel C, the current quantity produced by the firm is where MC intersects with marginal revenue (MR) curve, but the profit-maximizing quantity is where MC intersects with the market price (P3). Therefore, the firm can increase its profit by producing more units up to the point where MC equals P3.

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Answer:

Harriet Tubman is best known for running the Underground Railroad, a network of secret routes and safe houses used by slaves to escape to freedom in the 19th century. She personally helped lead hundreds of slaves to freedom and also served as a spy and nurse for the Union army during the Civil War.

Explanation:

Answer:

The House of Representatives, or Pratinidhi Sabha (Nepali: प्रतिनिधि सभा; Pratinidhi sabhā), is the one of the houses of the Federal Parliament of Nepal, with the other house being the National Assembly. Members of the House of Representatives are elected through a parallel voting system.

Explanation:

The Single Euro Payments Area (SEPA) is an initiative that seeks to unify electronic payments in the euro area, allowing companies and individuals to make payments and money transfers quickly, safely and efficiently. . This initiative is beneficial for companies because it allows them to make international payments more easily and cheaply, which reduces costs and increases efficiency.

However, SEPA can also cause some problems. Some countries may have cultural and economic differences that make them more comfortable with their own currencies rather than the euro, which may lead to opposition to the initiative. A current example of this is the political situation in Italy, where some political parties have expressed their opposition to the euro and have suggested a return to the Italian lira.

In conclusion, SEPA is an important initiative that seeks to unify electronic payments in the Eurozone and is beneficial for companies as well as individuals and families. However, its implementation can generate challenges and opposition due to cultural and economic differences.

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Answer:

The Constitution says that the government shall not deny to any person in India equality before the law or the equal protection of the laws. It means that the laws apply in the same manner to all, regardless of a person's status. This is called the rule of law.

Explanation:

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The most suitable people who can help the supervisor in understanding the issue of carts being left out in parking spaces are the cart collectors themselves, which means option A is the right answer.

The problem that arises in a supermarket that most often people leave the carts in the parking spaces or some random place which hinders either the parking spaces or blocks the driving area is quite normal. However it is the duty of the super market owner to have some people assigned to collect these carts and align them in their proper manner.

However even though there are people working to deal with the issue, the rate at which it occurs has not declined. The allied situations can be best explained by the cart collectors themselves. It might be due to ignorant people hiding the carts in some random location, or undue use of cart which might damage it.

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Answer:

Here are four possible examples:

Explanation:

Cultural beliefs and values: The cultural beliefs and values of a community may include discriminatory attitudes or practices, such as racism, sexism, or homophobia. These beliefs and values may be passed down from one generation to the next, and children growing up in such communities may learn to internalize and perpetuate these discriminatory attitudes.

Economic inequality: Communities that have higher levels of poverty and economic inequality may have less access to resources and opportunities, leading to discrimination based on socioeconomic status. Children growing up in such communities may face barriers to education, health care, and other basic needs, which can limit their life opportunities and perpetuate inequality.

Religious practices: Religious beliefs and practices may also contribute to discrimination. Some communities may discriminate against individuals who do not share their religious beliefs or who belong to minority religions. Children growing up in such communities may face ostracism or exclusion based on their religious beliefs or practices.

Historical and political factors: The history and politics of a community can also play a role in discrimination. For example, a community that has a history of racial segregation or political repression may perpetuate discriminatory attitudes and practices. Children growing up in such communities may be exposed to discriminatory policies or practices, which can shape their attitudes and beliefs about race, ethnicity, or political affiliation.

The four ways  the community in which a child is raised can become a source of discrimination are Cultural and ethnic differences; Socioeconomic status; Religion and Gender orientation.

A community is a group of people who share common interests, beliefs, or values and who interact with each other on a regular basis. The people of a community  work together to achieve common goals or to solve problems that affect the group as a whole.

Communities can take many different forms, from small neighborhoods to large cities, and can be based on a variety of factors, such as geographic location, ethnicity, religion, profession, or shared experiences.

It is crucial for communities to recognize and address discriminatory attitudes and behaviors in order to create a more inclusive and equitable environment for all children to grow up in.

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FinTech is an abbreviation for financial technology, and it refers to the use of technology in the financial services industry. The three main characteristics of FinTech are innovation, automation, and democratization.

Innovation refers to the introduction of new products and services in the financial sector, such as digital banking, robo-advisors, and mobile payments. An example of innovation in FinTech is Revolut, a banking app that offers an alternative to traditional banking services.

Automation is the process of replacing manual processes with automated solutions. An example of automation in FinTech is algorithmic trading, which is used to automatically execute trades based on pre-defined strategies.

Democratization is the process of making financial services and products more accessible to the general public. An example of democratization in FinTech is the development of financial inclusion platforms, which are used to provide access to financial services to those who are excluded from the traditional banking system.

Regulation can affect innovation in FinTech by providing clarity around the rules and regulations for the industry. For example, the UK Financial Conduct Authority (FCA) has introduced new regulations for the use of robo-advisors to ensure that consumers are protected from potential risks associated with these services.

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Finny is exhibiting signs of anxiety. The reason for this is that he is worried that his injury might become infected and spread to his entire foot.

Anxiety is a condition characterized by excessive worry or fear. It is normal for people to experience occasional anxiety, but when it becomes chronic, it can be a serious problem. Anxiety can cause physical symptoms such as increased heart rate, sweating, and shaking. It can also cause mental symptoms such as excessive worry and fear. Here, Finny is constantly checking his wound and asking his friends whether they think his wound will become infected. Therefore, the correct answer is anxiety.

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The aims of a given discussion should be in line with your teaching philosophies and the goals of the course. For instance, you might want students.

Her attitude has been consistently getting better. Her inconsistent work is an issue even though her work is occasionally good. Opposite. Consistency means making ongoing efforts to carry out actions consistently until you reach your goals, which calls for a lifetime engagement from you.

The teaching environment must be respected as a venue for polite, peaceful discussion by both teachers and students.

a teacher or someone who instructs. a college instructor with a lower rank than an assistant professor. A person who really is teaching anything or whose duty it is to educate is referred to as an instructor.

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When supply chain disruption occur, the best structure to have is a dedicated network. Therefore, the correct option is c. a dedicated network outperforms a network with one long chain.

Disruptions can happen at any time in the supply chain. As a result, companies must have a strategy to deal with supply chain disruptions. A supply chain disruption is defined as an unforeseen event or event that causes a disturbance in the supply chain's flow of goods and services. Disruptions can happen as a result of a variety of factors, including weather, natural disasters, economic conditions, supplier failure, or labor shortages.

A dedicated network is a supply chain management system in which one supplier works exclusively with one customer. This structure provides a degree of stability and protection against supply chain disruptions, making it the best structure for managing the risk of supply chain disruptions. By partnering with a single supplier, businesses may get a constant and dependable supply of goods and services.

Additionally, having a single source of supply reduces the complexity of the supply chain and enables businesses to reduce the chance of supply chain disruptions. Companies that have one long chain or several smaller chains may have difficulty dealing with disruptions, particularly if these structures lack a backup plan to deal with possible disruptions.

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The opportunity cost of agriculture and industry in the USA and Germany can be calculated by subtracting the productivity of each sector from the total productivity of the other sector.

For the USA, the opportunity cost of agriculture is: 2,225,069 - 110,267 = 2,114,802. The opportunity cost of industry is 9,603,977 - 2,225,069 = 7,378,908.

For Germany, the opportunity cost of agriculture is 2,161,361 - 55,871 = 2,105,490. The opportunity cost of industry is 5,027,138 - 2,161,361 = 2,865,777.

Therefore, the opportunity cost of agriculture and industry in the USA and Germany are, respectively:
USA: Agriculture = 2,114,802, Industry = 7,378,908
Germany: Agriculture = 2,105,490, Industry = 2,865,777

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The Bertrand-Nash equilibrium price each will set is 6, and the implied profit is 6q.

In the Bertrand oligopoly model, each firm's objective is to maximize revenue, given their expectations of what the other firm will do. Firms compete by setting prices for their products.

Bertrand-Nash equilibrium is a situation in which each firm is charging the price which is equal to its marginal cost. In this situation, no firm can gain any profit by deviating from the present strategy.

The given demand function for General Mills and Kellogg is as follows:

qi=12−2pi+pj

where i, j=K, G.

To find the Bertrand-Nash equilibrium price, we need to compute the reaction function of each firm.

The reaction function tells us what price a firm will charge, given the price charged by the other firm. It is the best response of a firm to the price set by its competitor.

For General Mills (G), we have:

qG=12−2pG+pK ⇒ pG=6−12qG+12q

KqG=qK ⇒ pG=6−12qG+12qG ⇒ pG=6

For Kellogg (K), we have:

qK=12−2pK+pG ⇒ pK=6−12qK+12q

GqK=qG ⇒ pK=6−12qK+12qK ⇒ pK=6

Therefore, the Bertrand-Nash equilibrium price is pG = pK = 6.

The profit of each firm is calculated using the following formula:

πi=qi(pi−c)

For General Mills:πG=qG(pG−0)=qG(6−0)=qG*6

For Kellogg:πK=qK(pK−0)=qK(6−0)=qK*6

As the production cost is zero, the profit of each firm is proportional to the quantity sold.

Substituting qG = qK in the above expression, we get the following equation for the total profit:

Total profit = 6q

where q is the quantity sold by each firm at the equilibrium price of 6.

Therefore, the Bertrand-Nash equilibrium price each will set is 6, and the implied profit is 6q.

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Current news story regarding Labor Unions is "Amazon workers in Alabama vote against forming a union."

The summary for this news story: Amazon workers in Bessemer, Alabama voted against joining the Retail, Wholesale, and Department Store Union (RWDSU) in a closely watched unionization effort, with the majority of votes cast against unionizing.

The closely watched unionization effort of Amazon workers in Bessemer, Alabama has ended with the majority of votes cast against unionizing, disappointing labor organizers and advocates who had hoped for a historic victory that would have spurred on more unionization efforts at Amazon and beyond, but the result was celebrated by Amazon and other large corporations who fear the potential rise in labor costs that would come with increased unionization.

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The equivalent annual cost in years 1 through 7 of a contract with the given details:

First cost of $65,000 in year 0 and annual costs of $19,000 in years 3 through 7 and use an interest rate of 9% per year. is $10,599.85 (rounded to two decimal places).

The equivalent annual cost (EAC) is defined as the annual cost of an asset determined over its lifetime. The following formula is used to calculate the EAC: EAC = [A + (B/i)]/PVA, where, A is the cost of purchasing the asset, B is the cost of running and maintaining the asset per year, i is the interest rate per year, PVA is the present value annuity factor.

EAC is calculated as follows: We need to calculate the present value annuity factor (PVA) for seven years with an interest rate of 9 percent per year. PVA for seven years at an interest rate of 9 percent is 5.78689.

Using this value in the formula, we get: EAC = [65,000 + (19,000/0.09)]/5.78689EAC = $10,599.85. Therefore, the equivalent annual cost is $10,599.85 (rounded to two decimal places).

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The estimated price elasticity of demand (PED) for coffee is -0.1647, which means that a 1% increase in the relative price of coffee leads to a 0.1647% decrease in the quantity demanded of coffee. .

The estimated income elasticity of demand (YED) for coffee is 0.5115, which means that a 1% increase in per capita personal disposable income leads to a 0.5115% increase in the quantity demanded of coffee.

The estimated cross-price elasticity of demand (CED) between tea and coffee is -0.0089, which means that a 1% increase in the relative price of tea leads to a 0.0089% decrease in the quantity demanded of coffee. The coefficient is small and statistically insignificant, suggesting that the price of tea does not have a significant effect on the consumption of coffee.

It is possible that advertising expenditure is omitted from the equation because it may be difficult to measure accurately or may not have a significant effect on coffee consumption. Alternatively, advertising may be captured in the error term of the equation.

The trend factor is included in the equation to capture the effect of time on coffee consumption that is not captured by the other variables in the equation. The coefficient on the trend factor is positive, indicating that coffee consumption has been increasing over time during the sample period.

The seasonal pattern in coffee consumption in the USA is captured by the dummy variables D1, D2, and D3, which take the value of 1 in the first, second, and third quarters, respectively, and 0 otherwise. The estimated coefficients on these variables suggest that coffee consumption is highest in the first quarter, lower in the second quarter, and lowest in the third quarter.

The R-squared value of 0.80 suggests that the model explains 80% of the variation in coffee consumption during the sample period. This is a relatively high R-squared value, indicating that the model fits the data well.

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Diversification is a strategy used by companies to reduce risk and increase returns by spreading their investments across multiple industries. This can be beneficial for shareholders as it reduces the risk of investments and increases the potential for growth. However, there are some drawbacks to diversification.

Firstly, it is often more expensive to acquire businesses in different industries as it requires the company to invest in different areas of expertise.

Secondly, it can be difficult to successfully integrate different businesses with different cultures, processes and systems. Additionally, managers and owners must be sure to remain focused on the core business as well as investing in new industries in order to ensure that they are able to achieve the desired returns.

Finally, there is also the risk that the company may not be able to effectively manage multiple businesses in different industries. For these reasons, it is important for managers and owners to carefully consider the risks and rewards of diversification before making any decisions.

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Aubrey's Marginal Propensity to Consume is 0.78. She spends 78% of her extra income on consumption.

To calculate the Marginal Propensity to Consume (MPC) for a given individual, divide the change in consumption by the change in income.

The MPC formula is expressed as MPC = ΔC/ΔY.

What is Marginal Propensity to Consume?

The marginal propensity to consume (MPC) is a microeconomic concept that describes the fraction of additional income spent by consumers. It measures the percentage of additional income spent on consumption, and it ranges between 0 and 1. When an individual's disposable income increases, they have the option of spending or saving the extra funds.

How do you calculate MPC?

The formula for calculating MPC is: MPC = ΔC/ΔY

Where,ΔC = Change in consumptionΔY = Change in income. Given, Aubrey's income is $900.She put $200 in her savings account, and the remaining amount is $700.To calculate the MPC, we need to determine the change in consumption by subtracting the previous consumption from the new consumption.

The change in consumption = $700 - $0 = $700

The change in income = $900 - $0 = $900

Now, we can calculate the MPC.

MPC = ΔC/ΔY

MPC = $700/$900

MPC = 0.78

Therefore, Aubrey's Marginal Propensity to Consume is 0.78. She spends 78% of her extra income on consumption.

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