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According to J.S. Duesenberry, what is the determinant of an individual's consumption?
According to J.S. Duesenberry, what is the determinant of an individual's consumption?
- Current income
- Previously reached income level
- Relative income (correct)
- Absolute income
According to Duesenberry, does an individual's consumption depend on their current income?
According to Duesenberry, does an individual's consumption depend on their current income?
- No, it depends on their absolute income
- No, it depends on their relative position in the income distribution
- Yes, it depends on their current income
- Yes, it depends on their previously reached income level (correct)
According to Duesenberry's relative income hypothesis, what does an individual's consumption depend on?
According to Duesenberry's relative income hypothesis, what does an individual's consumption depend on?
- Their previously reached income level
- Their current income
- Their absolute income
- Their relative position in the income distribution (correct)
If the incomes of all individuals in a society increase by the same percentage, what happens to an individual's relative income according to Duesenberry?
If the incomes of all individuals in a society increase by the same percentage, what happens to an individual's relative income according to Duesenberry?
According to Duesenberry, what does an individual's consumption depend on in relation to other individuals in the society?
According to Duesenberry, what does an individual's consumption depend on in relation to other individuals in the society?
According to Kuznets' empirical studies, what remains almost constant over a long period of time?
According to Kuznets' empirical studies, what remains almost constant over a long period of time?
According to Duesenberry's relative income hypothesis, what would happen to an individual's savings as their income increases?
According to Duesenberry's relative income hypothesis, what would happen to an individual's savings as their income increases?
What is the reason behind individuals with relatively low incomes not increasing their savings proportionally to their income increase according to Duesenberry?
What is the reason behind individuals with relatively low incomes not increasing their savings proportionally to their income increase according to Duesenberry?
Who does Duesenberry's relative income hypothesis apply to?
Who does Duesenberry's relative income hypothesis apply to?
What does Duesenberry's relative income hypothesis suggest about the community's consumption in the long run?
What does Duesenberry's relative income hypothesis suggest about the community's consumption in the long run?
According to Kuznets' empirical studies, what remains almost constant over a long period of time?
According to Kuznets' empirical studies, what remains almost constant over a long period of time?
According to Duesenberry's relative income hypothesis, what is the determinant of an individual's consumption?
According to Duesenberry's relative income hypothesis, what is the determinant of an individual's consumption?
Who does Duesenberry's relative income hypothesis apply to?
Who does Duesenberry's relative income hypothesis apply to?
According to Duesenberry, what is the reason behind individuals with relatively low incomes not increasing their savings proportionally to their income increase?
According to Duesenberry, what is the reason behind individuals with relatively low incomes not increasing their savings proportionally to their income increase?
If the incomes of all individuals in a society increase by the same percentage, what happens to an individual's relative income according to Duesenberry?
If the incomes of all individuals in a society increase by the same percentage, what happens to an individual's relative income according to Duesenberry?
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