41 What determines Consumption? What is Keynes’ Absolute Income Hypothesis?What is MPC?What happens to MPC as income increases?What did Kuznets say in his book?What is Duesenberry’s Relative Income Hypothesis?
42 What is the Permanent Income Hypothesis? What is Friedman’s contribution to Income Hypothesis?What is Modigliani’s Life Cycle Hypothesis?What is Autonomous Consumption?What is Saving?What is the MPS?What is Autonomous Investment?
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