Answer to Question #192397 in English for Elizabeth Mulingen

Question #192397

(b)With a help of a diagram discuss how the permanent income theory of consumption

explains the difference between the cross-sectionandtime-series estimates of the

Keynesian aggregate consumption function.



1
Expert's answer
2021-05-13T09:49:22-0400

the three most important theories of consumption are as follows: 1. Relative Income Theory of Consumption 2. Life Cycle Theory of Consumption 3. Permanent Income Theory of Consumption


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