Question: What were Keynes's three conjectures about the consumption function? (15 mark) 2. Describe the evidence that was consistent with Keynes's conjectures and the evidence that

  1. What were Keynes's three conjectures about the consumption function? (15 mark)

2. Describe the evidence that was consistent with Keynes's conjectures and the evidence that was inconsistent with them. (20 marks)

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