Question

The consumption function of an imaginary country is C= Rs 80 crore + 0.7Y. which of the following is true for his economy ?
A) 

Even if the country does not have income, its citizens still Rs 80 crore

B) 

People spend 70% rise in income on consumption

C) 

Both a and b

D) 

Autonomous consumption is Rs 80 crore and people spend 70% of income on consumption

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Answer 1

option a is right answer

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