Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the shape of the consumption function? Answer: an intercept. Consumption is a positive function of income; therefore the consumption function has to be

What is the shape of the consumption function? Answer: an intercept. Consumption is a positive function of income; therefore the consumption function has to be Sloping line; more specifically, it is an upward sloping straight line with a positive Note: Clicking any button other than the Save Answer button will NOT save any changes to your answers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Economics questions

Question

What advice would you give Monica? LOP98

Answered: 1 week ago