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picture1_Keynes Pdf 127258 | 33445eff7403320f9df5cc5aa73639b5


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File: Keynes Pdf 127258 | 33445eff7403320f9df5cc5aa73639b5
Keynes’s Theory of Consumption: Keynes in his “General theory”, published in 1936, laid the foundations of modern macroeconomics. The concept of consumption function plays an important role in ...

icon picture PDF Filetype PDF | Posted on 13 Oct 2022 | 2 years ago

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...Keynes s theory of consumption in his general published laid the foundations modern macroeconomics concept function plays an important role income and employment according to all factors it is current level that determines individual also society stress on absolute size as a determinant known put forward psychological law which increases but not by much increase other words marginal propensity consume less than one mpc while believed there are many including interest rate wealth influenced expenditure he emphasized spending depends about behaviour makes three points first suggests mainly period positive more has likely be any rich people tend poor do secondly out does have proportional relationship with him same proportion called average apc thus argues falls can expressed following form c byd where yd real disposable equals gross national minus taxes b constants intercept term amount at zero autonomous parameter measures response per unit y since keynesian depicted figs fig we shown l...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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Posted on: 13 Oct 2022 | 2 years ago
										
										
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