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Consumption and Savings Functions by Prof. Tarun Das

Consumption and Savings Functions by Prof. Tarun Das

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Published by Professor Tarun Das

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Published by: Professor Tarun Das on Nov 26, 2009
Copyright:Attribution Non-commercial

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05/10/2013

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Prof. Tarun Das, IILMEEP Session-51
Economic Environmentand Policy (EEP)Session-5
Consumption andSavings Functions
Dr. Tarun Das, Professor, IILM
 
Prof. Tarun Das, IILMEEP Session-52
Contents of this presentation
1.Consumption Function2.Savings Function3.Simple Keynesian Model4.Various Models onConsumption
 
Prof. Tarun Das, IILMEEP Session-53
1.1 Consumption Function
Consumption function shows therelationship between consumption (C)and income (Y) at different levels of income.C = f(Y) =
α
+
β
Y
α
> 0,
β
>0
α
is minimum level of consumption for biological survival.
Average Propensity to Consume(APC)
is the average consumptionexpenditure per unit income. APC is theratio of total consumption to income.
Marginal propensity to consume(MPC)
is the rate of change of consumption with respect to income.

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