Abstract
In the last chapter we argued that enterprises would adjust their output per period until planned sales and actual sales were equal. At this level of output enterprises would be in equilibrium: that is, they would have no reason to adjust their output plans in any way.
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Suggested reading
K. Cuthbertson, ‘The Determination of Expenditure on Consumer Durables’, NIESR Review, no. 94 (November 1980).
K. Cuthbertson, ‘The Measurement and Behaviour of the UK Savings Ratio in the 1970s’, NIESR Review, no. 99 (February 1982).
J. C. R. Dow, The Management of the British Economy, 1945–60 (Cambridge, 1964) ch. 11.
*M. Evans, Macroeconomic Activity (Harper & Row, 1969) chs 2, 3.
J. M. Keynes, The General Theory of Employment, Interest and Money (Macmillan, 1936) chs 8–10.
*L. R. Klein and A. S. Goldberger, An Econometric Model of the United States, 1929–52 (North-Holland, 1955) chs 2, 4.
L. Metzler in Incomes, Employment and Public Policy (Norton, 1948).
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© 1983 D. C. Rowan
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Rowan, D.C. (1983). The Consumption Function and the Multiplier. In: Output, Inflation and Growth. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06800-5_9
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DOI: https://doi.org/10.1007/978-1-349-06800-5_9
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