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Average Propensity to Consume
The average Propensity to Consume [APC] is defined as the fraction of aggregate national income which is devoted to consumption. If consumption is denoted by C and income by Y, then:
APC = C/Y
The Average Propensity to Consume decreases in Keynes model as income increases.
distinguish between industry demand and firm demand..
Keynes Theory Keynes views about trade cycle entitled notes on the trade cycle of his classic the general theory of employment interest and money published in 1936. Although K
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