Kaldor’s growth model incorporates some of the following assumptions :
(a) Total savings include savings out of wages and savings out of profits
(b) Marginal propensity to save out of wages is equal to the marginal propensity to save out of profits
(c) Output consists of wages and profits
(d) There is less than full employment
Choose the correct option :
1
(a) and (b)
2
(b) and (c)
3
(c) and (d)
4
(a) and (c)