Economics · Keynesian Economics
Which of the following statements is/are correct for Keynes' straight-line consumption function? 1. It has a positive intercept on the Y-axis. 2. For it, APC = MPC. 3. MPC continuously declines as income rises. 4. For it, APC > MPC.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only 2 and 3 are correct
- 2Only 1 and 4 are correct✓
- 31, 3 and 4 are correct
- 4Only 1 is correct
Correct answer
Only 1 and 4 are correct
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