The Patel family has a disposable income of $90,000 annually. Assume that their marginal propensity to consume is 0.8 (the Patel
1 answer:
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Answer:
x = -3
In-Depth Steps:
1.) Start with the bottom equation:
2.) Set alone on one side of the equal sign. Your equation will look like
.
3.) Plug in for
in the first equation. You will get
.
4.) Distribute. Your equation now looks like this: .
5.) Combine like terms. You will get .
6.) Subtract 6 from both sides. You get . We can learn that Y=0.
7.) Go back to either equation and put 0 in for y.
8.) In the top equation, it would look like and the bottom equation would look like
. We basically got our answer of
, but we will plug it into the
equation, and in-fact, we get x = -3.