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What were Keynes’s three conjectures about the consumption function? Describe the evidence that was consistent with...

What were Keynes’s three conjectures about the consumption function? Describe the evidence that was consistent with Keynes’s conjectures and the evidence that was inconsistent with them. Explain how do the Permanent-Income hypothesis and the Life Cycle hypothesis resolve the seemingly contradictory pieces of evidence regarding consumption behavior?

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Rahul Sunny answered 2 years ago
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