John maynard keynes hypothesized that household income was the
Simple Linear Regression Keynes’ Explanation of Consumption John Maynard Keynes hypothesized that household income was the primary determinant of household spending. To test his theory, 9 regions were selected within the United States based upon average disposable income levels. The scale income levels for these regions were 0.5, 1.0, 1.5, 2.0, 2.5, 3.0, […]
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