Difference between revisions of "Consumption function"
(Created page with "Consumption function is the relationship between income and expenditures on consumption. ==Definition== According to Principles of Economics by Timothy Taylor (3rd edit...") |
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[Consumption function]]. The relationship between income and expenditures on consumption. | :[[Consumption function]]. The relationship between income and expenditures on consumption. | ||
| − | + | According to [[Macroeconomics by Mankiw (7th edition)]], | |
| + | :[[Consumption function]]. A relationship showing the determinants of consumption; for example, a relationship between consumption and disposable income, C � C(Y � T). | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 17:44, 1 July 2020
Consumption function is the relationship between income and expenditures on consumption.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Consumption function. The relationship between income and expenditures on consumption.
According to Macroeconomics by Mankiw (7th edition),
- Consumption function. A relationship showing the determinants of consumption; for example, a relationship between consumption and disposable income, C � C(Y � T).
