Explain the components of the equation C=C+ b y.
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Explain the components of the equation C=ˉC+bY
Yd = disposable income (income after government intervention – e.g. benefits, and taxes) a or c bar = autonomous consumption (consumption when income is zero. Also known as induced consumption.
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Explain the components of the equation C=ˉC+bY
Yd = disposable income (income after government intervention – e.g. benefits, and taxes) a or c bar = autonomous consumption (consumption when income is zero. ... Also known as induced consumption.
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