How Does Expected Future Income Affect Saving Supply

question 71

Essay

How does expected future income affect saving supply?

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Definitions:

Committed

Describes a state of being dedicated or loyal to a cause, activity, or mission.

Duplex Mind

A concept suggesting the mind has two different processing systems, one automatic and unconscious, and the other deliberate and conscious.

Automatic System

A cognitive system that operates quickly and without conscious effort, responsible for fast and intuitive reactions and judgements.

Conscious System

Refers to the parts of the mind that are aware of surroundings, thoughts, and feelings at any given moment.