(a) [9 marks] Explain Keynes' three conjectures about the consumption function. Describe the evidence that is consistent

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(a) [9 marks] Explain Keynes' three conjectures about the consumption function. Describe the evidence that is consistent

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A 9 Marks Explain Keynes Three Conjectures About The Consumption Function Describe The Evidence That Is Consistent 1
A 9 Marks Explain Keynes Three Conjectures About The Consumption Function Describe The Evidence That Is Consistent 1 (46.19 KiB) Viewed 16 times
(a) [9 marks] Explain Keynes' three conjectures about the consumption function. Describe the evidence that is consistent with these conjectures and the evidence that is inconsistent with them. (b) [16 marks] Compare and contrast the Life Cycle Hypothesis with the Permanent Income Hypothesis. Which of these two hypotheses do you think deals more satisfactorily with the well known "consumption puzzle"? Explain.
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