Question

The value of mpc is 0.6 and initial income in the economy is rs 100 crores.Preare a schedule showing income and consumption and saving

Answer 1

Some subsequent comments criticized the definition as overly broad in failing to limit its subject matter to analysis of markets. From the 1960s, however, such comments abated as the economic theory of maximizing behaviour and rational-choice modelling expanded the domain of the subject to areas previously treated in other fields.