InterviewSolution
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InterviewSolution
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Define Income as per J.M. Keynes. |
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Answer» According to J.M.Keynes, Income refers to total money remuneration received by four factors of production in the form of rent, wages, interest and profit. It is expressed as follows: Y = C + I where, Y is income, C is consumption expenditure and ‘I’ investment expenditure. |
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