Examlex
The marginal rate of substitution of future leisure for future consumption must be equal to
Induced Consumption
Consumer spending that is influenced by changes in income, differentiating from autonomous consumption which does not vary with income.
Disposable Income
The liquidity households have for spending and saving, after income taxes have been deducted.
Consumption
The act of using goods and services by households that leads to a decrease in their availability.
APC
In economics, stands for Average Propensity to Consume, which is the ratio of total consumption to total disposable income.
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