An economy in which the whole income is not consumed is r...
An economy in which the whole income is not consumed is referred to as______
Frugal economy
Spend thrift economy
Capitalist economy
Mixed economy
Correct answer is A
A frugal economy is an economy in which the income is shared between consumption and saving or consumption and investment i.e
γ = c + s or γ = C + I
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When 20 units of output is produced, TC will be ...
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