Which one of the following hypotheses postulates that individual's consumption in any time period depends upon resources available to the individual, rate of return on his capital and age of the individual?
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.
The bus terminus project, which is a long-pending demand (A) of the people of Tiruchi, is gaining momentum (B) with the Chief Minister lying (C) t...
Choose the appropriate option to arrange the sentences in the correct order to form a meaningful paragraph.
A-Mahatma Gandhi described Subhash ...
Select the most appropriate meaning of the given idiom.
A feast for the eyes
Select the most appropriate word for the given group of words.
A small mischievous fairy
The new Prime Minister will now have to build on his successor’s (A) / predecessor’s (B) success and address his failures.
The coun...
Select the most appropriate option to substitute the underlined segment in the given sentence. If there is no need to substitute it, select ‘No substi...
Select the most appropriate option to substitute the underlined segment in the given sentence. If there is no need to substitute it, select ‘No substi...
CONTEMPORARY : DANCE :: TOADS :
Select the most appropriate option that can substitute the bold word in the given sentence
Microwave ovens heat food quickly, anxiously and saf...
Lapse