ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Capitalist Development in Agriculture-Further Comment

spend on these products and (b) that the average propensity to spend on these products is rising with the total expenditure on all products. In the case of the agricultural products, nil the contrary, the marginal propensity to spend is lower than the average propensity to spend, and hence the average propensity to spend on the agricultural products must decline as total expenditure rises. This becomes clear when we study the percentage of consumption expenditure on agricultural consumption goods in the different expenditure classes of the rural and the urban sectors of the economy during 1960-61 ( ie, the sixteenth lound of the NSS).

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