Question: Given the consumption function below C = + Y, if is 0.4, how can it be interpreted? Select one: a. Out of any additional income,

Given the consumption function below C = + Y, if is 0.4, how can it be interpreted?

Select one:

a. Out of any additional income, consumption increases by 40%

b. Out of any additional income, Consumption increases by 0.4%

c. Out of any additional income, Consumption increases by 60%

d. Out of any additional income, Consumption increases by 4%

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