Explain how consumption has grown over the long run.
-Even though labor income stagnated after 1970, consumer spending rose. Explain.
Correct Answer:
Verified
Q3: Whats defention of terms:
-consumption function
Q4: Whats defention of terms:
-dis-saving
Q5: Whats defention of terms:
-marginal propensity to consume
Q6: Whats defention of terms:
-marginal propensity to save
Q7: Whats defention of terms:
-savings
Q9: Explain how consumption has grown over the
Q10: Describe how consumption behaves over the business
Q11: Describe how consumption behaves over the business
Q12: Describe how consumption behaves over the business
Q13: Describe how consumption behaves over the business
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