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Answer : 2. "Income"
What does the consumption function express the relationship of consumption with?
5Q:
What does the consumption function express the relationship of consumption with?
- 1Savingfalse
- 2Incometrue
- 3Investmentfalse
- 4Pricefalse
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Answer : 2. "Income"
Explanation :
The consumption function is an economic formula that measures the relationship between income and total consumption of goods and services in the economy. The consumption function was introduced by John Maynard Keynes.