Economics (M.Phil./Ph.D.) 2015 Panjab University Entrance Exam With Answers

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26.

Keynes held that :

A: Consumption is a function of the level of income and saving is a function of the rate of interest
B: Saving is a function of income and consumption is a function of rate of interest
C: Both consumption and saving depend on the level of income
D: Both consumption and saving depend on the rate of interest

The answer is: C

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