The Canadian Consumption Function Is Given by C = 50

question 59

Multiple Choice

The Canadian consumption function is given by C = 50 + 0.75 Y. This implies that

• A) Canadians spend 75 percent of their income on average.
• B) each Canadian spends 75 percent of her/his income.
• C) Canadians on average spend 75 cents out of each additional dollar earned.
• D) Canadian spend 50 dollars of their income on average.

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