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    What Is Public Goods?

    2010/7/21 20:06:00 71

    Public Goods

    Public goods: products that are non competitive and non exclusive and can not be effectively allocated by market mechanisms.

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    What Is Consumption Function?

    The consumption function takes C as the level of consumption, while Y indicates national income. In the two sector economy, the relationship between consumption and income can be expressed as function: C = C (Y).

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