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For each of the following explain and graphically illustrate what happens to consumer spending and aggregate expenditures in response to the...


For each of the following explain and graphically illustrate what happens to consumer spending and aggregate expenditures in response to the following:


  • Consumer wealth increases
  • Consumer income Falls

Top Answer

National income is calculated by adding all the expenditure done by all parties or simply by adding consumption, investment,... View the full answer

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