Draw the consumption function as the relation of the consumer's income and expenditure. What does the slope of the consumption function depend on? Is the consumer's income the only factor determining the level of his consumption spending?
Draw the consumption function as the relation of the consumer's income and expenditure. What does the slope of the consumption function depend on? Is the consumer's income the only factor determining the level of his consumption spending?
Chapter18: The Keynesian Model
Section: Chapter Questions
Problem 6SQ
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Draw the consumption function as the relation of the consumer's income and expenditure.
What does the slope of the consumption function depend on?
Is the consumer's income the only factor determining the level of his consumption spending?
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