Which of the following statements is false?
A) Since 1955,Americans have been spending a larger percentage of their incomes on services.
B) At the point when the C line crosses the 45-degree line,saving is equal to zero.
C) Induced consumption is equal to autonomous consumption when disposable income is zero.
D) According to the permanent income hypothesis,if a person received a windfall of $1 million he would spread his consumption of it over a period of years.
Correct Answer:
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