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q1 8. If an individual has no access to credit markets: a. his or her marginal propensity to consume out of current income is one
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8. If an individual has no access to credit markets: a. his or her marginal propensity to consume out of current income is one b. he or she saves much less c. he or she can consumption smooth d. his or her marginal propensity to consume is equal to 1/7 if he or she lives T periods e. his or her future consumption is equal to zeroStep by Step Solution
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