Who propounded Psychological law of consumption

Related MCQs

• Psychological law of consumption states that the value of MPC is lies between zero and
• In the fundamental theorem of consumption and to prove the law of demand, Samualson uses
• Keynes assumed the presence of --------- economy for the fundamental law of consumption
• Income consumption curve of an inferior commodity is
• The slope of the consumption function is called
• Ratio of consumption expenditure to any particular level of income
• In the linear consumption function C = a + bY, coefficient ‘a’ denotes
• According to Keynes the most important determinant of consumption
• 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
• Which of the following can cause shifts in consumption function: