consumption function
21Indirect utility function — In economics, a consumer s indirect utility functionv(p, w) gives the consumer s maximal utility when faced with a price level p and an amount of income w. It represents the consumer s preferences over market conditions.This function is called… …
22Stone-Geary utility function — The Stone Geary utility function takes the form:U = prod {i} (q i gamma i)^{eta {iwhere U is utility, q i is consumption of good i, and eta and gamma are parameters.For gamma i = 0, the Stone Geary function reduces to the generalised Cobb… …
23Discount function — A discount function is used in economic models to describe the weights placed on rewards received at different points in time. For example, if time is discrete and utility is time separable, with the discount function f(t) with c(t) defined as… …
24bodily function — noun an organic process that takes place in the body (Freq. 1) respiratory activity • Syn: ↑bodily process, ↑body process, ↑activity • Derivationally related forms: ↑active (fo …
25Функция потребления — CONSUMPTION FUNCTION Соотношение между зависимой величиной (потребительскими расходами) и некоторыми независимыми переменными, определяющими величину потребления (текущим чистым доходом, ранее полученными доходами, богатством семьи). Иначе говоря …
26economic stabilizer — Any of the institutions and practices in an economy that serve to reduce fluctuations in the business cycle through offsetting effects on the amounts of income available for spending (disposable income). The progressive income tax, unemployment… …
27economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… …
28Marginal propensity to consume — In economics, the marginal propensity to consume (MPC) is an empirical metric that quantifies induced consumption, the concept that the increase in personal consumer spending (consumption) occurs with an increase in disposable income (income… …
29Life-cycle Income Hypothesis — Italian American Economist Franco Modigliani, winner of Nobel Memorial Prize in Economics in 1985, originated the Life cycle Income Hypothesis base on Irving Fisher s model of inter temporal choice. In Modigliani s Life cycle Hypothesis, or LCH… …
30Michał Kalecki — Keynesian economics Born 22 June 1899(1899 06 22) Łódź, Poland …
