Q. The Relationship between rate of interest and consumption level was firstly estimated by–
✅ Correct Answer: (B)
Milton Freedman
Explanation: With increase in rate of interest there is decrease in consumption level i.e. there is inverse relation between rate of interest and consumption level.
Explanation by: Mr. Dubey
With increase in rate of interest there is decrease in consumption level i.e. there is inverse relation between rate of interest and consumption level.