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The life-cycle theory of consumption, popularly known as life-cycle hypothesis,' was developed by Ando and Modigliani" in the early 1960s. The life-cycle hypothesis postulates that individual consumption in any time period depends on (i) resources available to the individual, (ii) the rate of return on his capital, and (iii) the age of the individual. The resources available to an individual consist of his existing net wealth and the present value of all his current and future labour incomes. According to the life-cycle hypothesis, a rational consumer plans consumption on the basis of all his resources and allocates his income to consumption over time so that he maximizes his total utility over his life time.
Which of the following is NOT a part of the hind-brain?
Which of the following festivals in Arunachal Pradesh is associated with Agriculture?
Karsondas Mulji and Dadoba Pandurang were associated with ________, which worked against evils like caste system and encouraged widow remarriage.
Which one of the following is NOT correctly matched?
When was the Ayushman Bharat Digital Mission launched?
Which album earned Ricky Kej his third Grammy Award?
Who among the following was popularly known as Masterda, who led the Chittagong Armory raid in April 1930 in British India?
In which of the following states is the site of Bhimbetka situated?
Which of the following is a roundworm?
Who is the current textile minister of India?