Examlex
What is the real exchange rate?
What is its relationship to the current account?
Expected Utility
A theory in economics that models how agents choose among risky alternatives to maximize their satisfaction.
Income
Receipts garnered on a habitual basis as a result of engaging in work or investment.
Von Neumann-Morgenstern
A theory of expected utility which provides axioms for how rational individuals make decisions under uncertainty.
Utility Function
A mathematical representation of how different bundles of goods or services are valued by an individual or entity for satisfaction or utility.
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