which one of the following statement regarding consumption spending is correct
(1) total consumption consist of induced consumption and autonomous consumption
(2) induced consumption is independent of the rate of income
(3) autonomous consumption is a function of income
(4) both autonomous and induced consumption are a function of income
1
Expert's answer
2019-09-16T09:05:25-0400
correct answer is (1) total consumption consist of induced consumption and autonomous consumption
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