In the fundamental theorem of consumption and to prove the law of demand, Samualson uses

Related MCQs

• Keynes assumed the presence of --------- economy for the fundamental law of consumption
• Psychological law of consumption states that the value of MPC is lies between zero and
• Who propounded Psychological law of consumption
• The law which states that supply creates its own demand and overproduction is impossible is known as:
• “Effective demand is different from aggregate demand”. This statement is:
• When demand curve is rectangular hyperbola, the value of price elasticity of demand will be:
• Excess demand for money, according to Say’s law in the Economy:
• “Supply creates its own demand “is a law of:
• Who postulated the law Supply creates its own demand
• When disposable income rises from Rs 500 to Rs 600 and consumption expenditure changes from Rs 470 to Rs 560, MPC will be equal to