Keynes assumed the presence of --------- economy for the fundamental law of consumption

Related MCQs

• Consider the following statements: 1. In a Capitalist economy there is private ownership of means of production 2. In a communist nation, the means of production are owned by the State 3. In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?
• Psychological law of consumption states that the value of MPC is lies between zero and
• Who propounded Psychological law of consumption
• According to Keynes people demand money for purposes (motives):
• According to Keynes, motives for holding money are:
• According to Keynes, demand for money is affected by:
• Excess demand for money, according to Say’s law in the Economy:
• What are consumption goods?
• The slope of the consumption function is called
• In the linear consumption function C = a + b(Y), coefficient ‘a’ denotes