Answer to Question #80721 in Microeconomics for bryan

Question #80721
Which one of the following statements about the consumption function is incorrect?
a) Consumption spending consists of autonomous consumption and induced consumption.
b) Autonomous consumption consists largely of spending on durable consumer goods.
c) Autonomous consumption is independent of the level of income.
d) As income increases, the level of induced consumption increases.
1
Expert's answer
2018-09-10T13:03:22-0400
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