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Question 2: a. Discuss and graphically depict Keynes's three conjectures about the consumption function. b. Present and explain Keynesian's consumption function that was created from

Question 2:

a. Discuss and graphically depict Keynes's three conjectures about the consumption function.

b. Present and explain Keynesian's consumption function that was created from these conjectures

c. What is meant by "autonomous consumption"? )

d. Explain the consumption puzzle?

e. How does the Life-Cycle Hypothesis resolve the puzzle?

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