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    Macroeconomics Study Set 39
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    Exam 16: Understanding Consumer Behavior
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    According to Keynes, What Is the Relationship Between Average Propensity
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According to Keynes, What Is the Relationship Between Average Propensity

Question 39

Question 39

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According to Keynes, what is the relationship between average propensity to consume and income? What was his reasoning?

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Keynes posited that the ratio of consump...

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