Economics · Consumption Function
In the linear aggregate consumption function equation C = a + bY, the intercept parameter 'a' represents:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Marginal propensity to save
- 2The amount of consumption when income is at its maximum
- 3Marginal propensity to consume
- 4Autonomous consumption (the amount of consumption when income is zero)✓
Correct answer
Autonomous consumption (the amount of consumption when income is zero)
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