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Chapter 2 discusses the consumption and saving functions, focusing on the relationship between household consumption and income, primarily through the Keynesian consumption function. It highlights that as income increases, the average propensity to consume decreases while the propensity to save increases, suggesting that lower-income households tend to consume a larger portion of their income. The chapter also critiques the Keynesian model, noting its short-term validity but long-term refutations, leading t
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