According to the Keynesian macroeconomic model, consumption is a function of which three variables?
Select one:
a. a) Autonomous consumption, intended investment, and the marginal propensity to consume
b. b) Autonomous consumption, the marginal propensity to consume, and income
c. c) Autonomous consumption, actual investment, and the marginal propensity to consume
d. d) The marginal propensity to consume, income, and intended investment
b. b) Autonomous consumption, the marginal propensity to consume, and income
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The real purpose of the Webb-Pomerene Act of 1918 was to alter the terms of trade in favor of the United States
Indicate whether the statement is true or false
A decrease in supply will have what effect on equilibrium price and quantity?
a. Price will increase; quantity will decrease. b. Price will decrease; quantity will increase. c. Both price and quantity will increase. d. Both price and quantity will decrease.