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ECN 204 (281)
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Chapter 8

ECN 204 Chapter 8 Notes.docx

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Ryerson University
ECN 204
Amy Peng

ECN 204 Chapter 8 Notes The IncomeConsumption and IncomeSaving Relationships45 degree line is a reference line that bisects the 90 degree angle formed by the two axes and along which consumption equals disposable incomeThe Consumption Schedule o Consumption Schedule is a schedule showing the amount households plan to spend for consumer goods at different level of disposable incomeThe Saving Schedule o Saving Schedule is a schedule that shows the amounts households plan to save at different levels of disposable income because saving equals disposable income less consumption SDIC o Break Even Income is the level of disposable income at which households plan to consume all their income and save none of it CDIAverage and Marginal Propensities o APC and APSAverage Propensity to Consume APC is the fraction or percentage of disposable income that households plan to spend for consumer goods and services APCConsumptionIncomeAverage propensity to Save APS is the fraction
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