Over long periods of time, the percentage of households income spent on consumption does not change much

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Over long periods of time, the percentage of households’ income spent on consumption does not change much even as income rises. Use the five insights into the relationship between income and consumption to explain this observation.

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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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Question Posted: Feb 20, 2024 01:01 AM

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Over long periods of time, the percentage of households income spent on consumption does not change much

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Principles Of Economics

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