1 what is the consumption function and how is it, Microeconomics

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1 what is the consumption function and how is it

1. What is the consumption function and how is it related to the Marginal Propensity to Consume?

2. What is the multiplier?

3. What determines the position of the Long Run Aggregate Supply curve?

4. What is a supply shock? Give several examples.

5. What is stagflation? Why does it develop?

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Microeconomics: 1 what is the consumption function and how is it

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