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The following question is based on the following equation, which refers to a closed economy with no government:
C = 100 + 0.75Y
Which of the following statements is/are correct?
a. When income is zero, private savings are 100.
b. The slope of the savings function is 0.75.
c. The savings function will be given by S = 100 + 0.25Y.
d. None of the statements is correct.
Sagot :
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