Which of the following is not a proposition to the psychological law of consumption? Increase in income does not lead to less savings than before. Increase in income leads to less savings than before. Increase in income is divided into a certain ratio of saving and spending. As the income increases, spending also increases but less than the increase in income.
Which of the following is not a proposition to the psychological law of consumption? Increase in income does not lead to less savings than before. Increase in income leads to less savings than before. Increase in income is divided into a certain ratio of saving and spending. As the income increases, spending also increases but less than the increase in income.
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 10P
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