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use an appropriate diagram, to explain how the permanent income theory of consumption renconciles the results of cross section and time series estimate of keynesian aggregate consumption function

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter9: Demand-side Equilibrium: Unemployment Or Inflation?

Section: Chapter Questions

Problem 7TY

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use an appropriate diagram, to explain how the
permanent income theory of consumption
renconciles the results of cross section and time
series estimate of keynesian aggregate
consumption function

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