Business, 26.11.2019 11:31, mv603177

The wong family has a disposable income of $70,000 annually. currently, the wong family spends 80% of new disposable income on consumption. assume that their marginal propensity to consume is 0.8 and that their autonomous consumption spending is equal to $10,000.
what is the amount of the wong family's annual consumer spending?

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The wong family has a disposable income of $70,000 annually. currently, the wong family spends 80% o...