Figure 8-1

-Given the scatter diagram in Figure 8-1, how much will consumption decrease if the price level rises by 5 percent?
A)$50 billion
B)$100 billion
C)$200 billion
D)cannot be determined

Question

Figure 8-1
 
-Given the scatter diagram in Figure 8-1, how much will consumption decrease if the price level rises by 5 percent?
A)$50 billion 
B)$100 billion 
C)$200 billion 
D)cannot be determined

Quizplus · Accepted Answer

Without the actual scatter diagram or additional data, it is impossible to determine the exact decrease in consumption due to a 5 percent rise in the price level.

Figure 8-1 -Given the Scatter Diagram in Figure 8-1, How Much Will