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The following equation represents a relationship between household consumption expenditure, c and income, y: C= 120+0.65y explain what the figure 120 stands for in the consumpti…

The following equation represents a relationship between household consumption expenditure, c and income, y: C= 120+0.65y explain what the figure 120 stands for in the consumpti…
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The following equation represents a relationship between household consumption expenditure, c and income, y: C= 120+0.65y explain what the figure 120 stands for in the consumption income relationship, and the type of

relationship

User Adri
by
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1 Answer

6 votes
120 is the MPC (marginal propensity consumption), and it has an independent relationship.
User Andrew Keller
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