What is the relationship between the marginal and average propensity to consume in the standard Keynesian consumption function and permanent income hypothesis?
What is the relationship between the marginal and average propensity to consume in the standard Keynesian consumption function and permanent income hypothesis?
Chapter21: Fiscal Policy
Section: Chapter Questions
Problem 4SQ
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What is the relationship between the marginal and average propensity to consume in the standard Keynesian consumption function and permanent income hypothesis?
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