2. What is the main theme of the relative income hypothesis? What is meant by the ratchet...

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2. What is the main theme of the relative income hypothesis? What is meant by the

‘ratchet effect’? What are the weaknesses of the relative income hypothesis?

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Macroeconomics Theory And Policy

ISBN: 9780070091450

3rd Edition

Authors: D.N. Dwivedi

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Question Posted: Nov 07, 2024 04:00 AM

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2. What is the main theme of the relative income hypothesis? What is meant by the ratchet effect? What are the weaknesses of the relative income hypothesis?
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2. What is the main theme of the relative income hypothesis? What is meant by the ratchet...

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Macroeconomics Theory And Policy

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