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Determination Of Income And Employment

Question

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What is consumption function?

Solution

The functional relationship between consumption (C) and income (Y) is called consumption function (or propensity to consume). Symbolically: C = f(Y).

Some More Questions From Determination of Income and Employment Chapter

What are the types of Propensity to consume?

How does MPC affect level of income?

Distinguish between APC and MPC, The value of which of APC and MPC can be greater than one and when?

State relationship between income and saving.

What is saving function (or Propensity to save)?

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