Macro economics
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It deals Consumption function: Meaning – Types –– Propensity to Consume - Meaning – APC and MPC – Determinants of Propensity to Consume – Keynesian Psychological Law of Consumption - Significance of Keynes Law
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Consumption, Saving and Investment.pptx
This document provides an overview of consumption theory including key concepts like the consumption function, marginal propensity to consume, average propensity to consume, and the psychological law of consumption. It also discusses saving functions, investment, and factors that influence consumption, saving, and investment decisions. Some of the main points covered include defining consumption and savings, the relationship between income and consumption, linear and nonlinear consumption functions, and how consumption, savings, and investment interact in an economy.
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The document discusses the consumption function and its key determinants. It states that consumption (C) equals autonomous consumption (C0) plus induced consumption which varies directly with disposable income (Yd) through a linear function. It also discusses concepts like the marginal propensity to consume (MPC), average propensity to consume (APC), multiplier effect, and aggregate demand. The multiplier expresses the ratio of the change in income to the initial change in investment and depends on the level of MPC. Aggregate demand (AD) equals consumption (C) plus investment (I) plus government spending (G) plus net exports.
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1. The document discusses key concepts related to aggregate demand, aggregate supply, and their components. It defines aggregate demand as the total expenditure on final goods and services in an economy, and identifies its main components as private consumption, investment, government expenditure, and net exports.
2. Aggregate supply is defined as the total production of goods and services in an economy. Its main components are consumption and savings. The relationship between consumption, income, and savings is also explained using consumption and savings functions.
3. Important concepts like average propensity to consume, marginal propensity to consume, and their properties are summarized. The relationship between different macroeconomic variables like income, consumption, savings, aggregate demand, and aggregate supply
The-Keynesian-Theory-of-Determination-of-National-Income.pdf
This document provides an overview of the key concepts in the Keynesian theory of national income determination. It discusses the theory through three economic models: a two-sector model consisting of households and businesses, a three-sector model adding government, and a four-sector model including foreign trade. The document defines important Keynesian concepts like aggregate demand, the consumption function, marginal propensity to consume, and average propensity to consume. It also illustrates the circular flow of income and expenditures in a simple two-sector economy.
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The document summarizes several economic theories of consumption:
1) John Maynard Keynes theorized that consumption depends on current income, while later models incorporated expected future income and wealth.
2) Irving Fisher introduced intertemporal choice theory, assuming consumers maximize lifetime utility subject to budget constraints.
3) Franco Modigliani's life-cycle hypothesis proposes consumption varies over a person's life cycle as they save during working years and dissave in retirement.
4) Milton Friedman's permanent income hypothesis views current income as having permanent and transitory components, with consumption based on permanent income.
Chapter 3 -consumption and investment for BBA
Consumption and investment are the two components of aggregate demand in a simple two-sector macroeconomic model that assumes no government or foreign trade. Consumption is determined by disposable income and other factors, while savings is the portion of disposable income not consumed. The marginal propensity to consume measures how consumption changes with income, and is between 0 and 1. Determinants of consumption and savings include income, interest rates, prices, wealth, and demographic factors.
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The document discusses key concepts in macroeconomics related to consumption, investment, and stabilization policy. It covers Keynes' consumption function, including the average propensity to consume (APC) and marginal propensity to consume (MPC). It also discusses empirical estimates of the consumption function and attempts to reconcile short-run and long-run consumption functions. The document then covers investment and the desired capital stock, as well as goods market equilibrium where supply equals demand as Y=C+I+G.
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This document provides an overview of consumption theory including key concepts like the consumption function, marginal propensity to consume, average propensity to consume, and the psychological law of consumption. It also discusses saving functions, investment, and factors that influence consumption, saving, and investment decisions. Some of the main points covered include defining consumption and savings, the relationship between income and consumption, linear and nonlinear consumption functions, and how consumption, savings, and investment interact in an economy.
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The document discusses the consumption function and its key determinants. It states that consumption (C) equals autonomous consumption (C0) plus induced consumption which varies directly with disposable income (Yd) through a linear function. It also discusses concepts like the marginal propensity to consume (MPC), average propensity to consume (APC), multiplier effect, and aggregate demand. The multiplier expresses the ratio of the change in income to the initial change in investment and depends on the level of MPC. Aggregate demand (AD) equals consumption (C) plus investment (I) plus government spending (G) plus net exports.
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1. The document discusses key concepts related to aggregate demand, aggregate supply, and their components. It defines aggregate demand as the total expenditure on final goods and services in an economy, and identifies its main components as private consumption, investment, government expenditure, and net exports.
2. Aggregate supply is defined as the total production of goods and services in an economy. Its main components are consumption and savings. The relationship between consumption, income, and savings is also explained using consumption and savings functions.
3. Important concepts like average propensity to consume, marginal propensity to consume, and their properties are summarized. The relationship between different macroeconomic variables like income, consumption, savings, aggregate demand, and aggregate supply
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The document summarizes several economic theories of consumption:
1) John Maynard Keynes theorized that consumption depends on current income, while later models incorporated expected future income and wealth.
2) Irving Fisher introduced intertemporal choice theory, assuming consumers maximize lifetime utility subject to budget constraints.
3) Franco Modigliani's life-cycle hypothesis proposes consumption varies over a person's life cycle as they save during working years and dissave in retirement.
4) Milton Friedman's permanent income hypothesis views current income as having permanent and transitory components, with consumption based on permanent income.
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Consumption and investment are the two components of aggregate demand in a simple two-sector macroeconomic model that assumes no government or foreign trade. Consumption is determined by disposable income and other factors, while savings is the portion of disposable income not consumed. The marginal propensity to consume measures how consumption changes with income, and is between 0 and 1. Determinants of consumption and savings include income, interest rates, prices, wealth, and demographic factors.
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The document discusses Keynes' consumption function, which posits that consumption is a function of income. It states that according to Keynes:
1) Consumption increases as income increases, but not by as much as the increase in income.
2) When income increases, the increment is divided between consumption spending and savings.
3) Both consumption spending and savings will rise as income increases.
The document then defines key terms in Keynes' consumption function analysis, such as average propensity to consume, marginal propensity to consume, average propensity to save, and marginal propensity to save.
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1. The document discusses consumption theory and how consumption relates to income through consumption functions. It defines consumption and savings functions and explains how to calculate them based on different income levels.
2. The aggregate expenditure model is introduced as a way to relate total spending in the economy to gross domestic product. The model shows equilibrium being reached at the point where total expenditures equal GDP, which can be seen via a Keynesian cross diagram.
3. Determinants of consumption and the calculation of equilibrium output are outlined. Equilibrium output is found using the consumption function equation and setting consumption equal to income to find the level where total expenditures and income are equal
Approaches used in Measuring ational income
There are three main approaches to measuring national income: the income approach, expenditure approach, and product/output approach. The income approach adds up all incomes received, the expenditure approach adds up all expenditures, and the product approach measures the total value of final goods produced. National income is determined by factors such as technology, human capital, policies, resources, and market size. While per capita income measures average income, it does not fully capture living standards. National income equilibrium is reached when aggregate demand equals aggregate supply according to the two-sector model.
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This document defines key macroeconomic concepts related to aggregate demand and supply. It explains that:
1. Aggregate demand is the total planned expenditure on final goods and services and equals consumption + investment + government spending + net exports. Consumption and investment make up aggregate demand in a simple two-sector economy.
2. Aggregate supply is the total planned output of final goods and services and equals national income. National income equals consumption + savings at the national level.
3. The consumption function shows the relationship between consumption and national income, where consumption has an autonomous and induced component. The marginal propensity to consume is the change in consumption from a change in income.
DETERMINATION OF INCOME & EMPLOYMENT.pptx
Equilibrium level of income is Rs. 320 Crore.
Q2. If in an economy, C = 100 + 0.8Y and I = 50 + 0.1Y. Calculate equilibrium
level of income.
Answer: AD = AS
C + I = Y
100 + 0.8Y + 50 + 0.1Y = Y
150 + 0.9Y = Y
150 = 0.1Y
Y = 150/0.1 = Rs. 1500 Crore
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This document provides an overview of consumption functions and related economic concepts. It defines consumption expenditure and discusses its graphical representation. It also examines the relationship between consumption expenditure and factors like wealth, interest rates, and income. Key concepts discussed include the average propensity to consume, marginal propensity to consume, saving function, average propensity to save, and marginal propensity to save. Graphs are used to illustrate these relationships and how consumption and savings change with different levels of income.
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The document discusses Keynes' income determination model and the concepts of consumption, saving, investment, and equilibrium. It can be summarized as:
1) The model shows how consumption, saving, and investment determine aggregate demand and income in a simple two-sector closed economy.
2) Consumption depends on income and is modeled as C = Ca + cY, where Ca is autonomous consumption and cY is induced consumption. Saving is the portion of income not consumed.
3) Equilibrium occurs where aggregate expenditure (C + I) equals total income, as shown by the intersection of the AE and 45-degree lines. At this point, planned saving equals planned investment.
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Froyen21
1) Keynes argued that consumption is determined by disposable income and other factors. Empirical studies from 1929-1941 estimated the consumption function as C = 26.5 + 0.75Yd, supporting Keynes' theory.
2) Kuznets' data from 1869-1938 showed average propensity to consume remained constant despite rising income, contradicting Keynesian predictions.
3) The life cycle and permanent income hypotheses were proposed as alternative explanations for consumption, arguing it depends on lifetime rather than current income. They better explained post-war consumption levels.
Consumption function
The document summarizes Keynes' psychological law of consumption, which states that as income increases, consumption increases but by less than the increase in income. It defines the consumption function and shows it represented as C=f(Y). Keynes proposed that consumption has both an autonomous and induced component. The law has three related propositions: 1) consumption increases as income rises but by a smaller amount, 2) the increased income is divided between consumption and savings, and 3) rises in income increase both consumption and savings. The law is illustrated using a table and consumption diagram. It assumes a stable psychological and institutional environment for the capitalist economy.
Macrol8.2020 2021
1. The document discusses Keynesian economics and the functions of consumption and investment.
2. According to Keynesian theory, consumption is a function of national income, and consumption and investment determine a nation's total demand and output.
3. Keynes argued that consumption depends on current income levels, and will increase as income increases but at a decreasing rate, while investment depends on expected future income levels and demand conditions.
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This document outlines the concepts of the consumption function and the multiplier effect in economics. It discusses:
1) The Keynesian consumption function, which models consumption (C) as a function of income (Y), where consumption has an autonomous and income-induced component. The marginal propensity to consume (MPC) describes how much of additional income is spent on consumption.
2) The multiplier effect, where an initial change to autonomous consumption or government spending (G) generates further rounds of consumption through the MPC, cumulatively increasing income (Y) by a multiplier amount.
3) The multiplier (k) is calculated as the change in income (ΔY) divided by the initial change in
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This document provides an overview of several prominent theories of consumption, including:
1) John Maynard Keynes' theory that current consumption depends on current income. Later theories found problems with Keynes' prediction that consumption would grow more slowly than income over time.
2) Irving Fisher's intertemporal choice theory, which assumes consumers maximize lifetime satisfaction subject to an intertemporal budget constraint. This theory formed the basis for later work on consumption.
3) Franco Modigliani's life-cycle hypothesis, which proposes consumption depends on lifetime resources and income varies systematically over a consumer's life cycle, allowing saving to achieve smooth consumption. This theory helped solve the "consumption puzzle."
4)
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The document discusses key concepts related to consumption functions, including:
1) Consumption depends mainly on current income but is also influenced by other factors like interest rates and wealth. As income rises, consumption increases at a lower rate due to savings.
2) Average Propensity to Consume (APC) and Marginal Propensity to Consume (MPC) measure the relationship between consumption and income. APC is the ratio of total consumption to total income, while MPC is the change in consumption over a change in income.
3) Effective demand, the combination of consumption and investment demand, must remain high to maintain employment levels. Investment demand depends on the marginal efficiency of capital (MEC).
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Theory of Income and Employment - Economics 12th ISC Refresher course.pptx
The document discusses key concepts in macroeconomics such as aggregate demand, aggregate supply, equilibrium output, and the multiplier effect. It defines ex-ante demand as planned demand and ex-post demand as actual demand. Aggregate demand is the total final expenditure and is affected by consumption, investment, government spending, and net exports. Equilibrium output occurs at the point where aggregate demand and supply intersect. The investment multiplier shows that a change in investment leads to a greater change in total income through subsequent rounds of spending.
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This document discusses key concepts related to consumption functions in economics. It defines consumption as aggregate expenditure on goods and services to satisfy wants. Consumption is determined by and a function of income (C=f(Y)). The simple consumption function is expressed as C=C0+C1Y, where C0 is autonomous consumption and C1 is the marginal propensity to consume. Autonomous consumption refers to minimum spending needed even without income. The document also discusses average and marginal propensity to consume, save, and invest, and how these relate to the multiplier concept in economics.
Keynes’s psychological law of consumption
1) Keynes proposed a psychological law of consumption which states that as income increases, consumption increases but not proportionately. The marginal propensity to consume is less than one.
2) Consumption depends mainly on current income. As income rises, the proportion of income spent on consumption (average propensity to consume) falls.
3) Keynes' consumption function can be expressed as C = a + bYd, where C is consumption, Yd is disposable income, a is autonomous consumption, and b is the marginal propensity to consume (MPC), which is less than the average propensity to consume (APC).
Consumption function
The document discusses the consumption function, which models the relationship between total consumption and national income. Consumption is defined as an increasing function of income. The average propensity to consume (APC) is the ratio of consumption to income and declines as income rises. The marginal propensity to consume (MPC) is the change in consumption from a change in income and is assumed to be positive but less than 1. Keynes' psychological law of consumption states that consumption increases less than proportionately to increases in income. Determinants of consumption include subjective psychological factors as well as objective factors like wages, fiscal policy, and interest rates. Theories like Duesenberry's relative income hypothesis model consumption as interdependent and influenced by social
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The document discusses theories of consumption, including Keynes' consumption function which posits that consumption is primarily determined by current income. It also discusses later developments like the life-cycle hypothesis and permanent income hypothesis which argue consumption depends on lifetime or permanent income rather than just current income. The document also examines consumer optimization using indifference curves and budget constraints over multiple time periods.
Internatioal institutions
The document provides information on several international financial institutions and organizations:
The International Monetary Fund (IMF) promotes international monetary cooperation and trade. Headquartered in Washington D.C., it has 189 member countries and oversees short-term lending to address members' balance of payments issues.
The World Bank aims to reduce poverty and promote shared prosperity. Based in Washington D.C., it provides long-term loans for development projects across 173 countries.
The World Trade Organization (WTO) facilitates global trade through negotiations and dispute resolution. With 164 members, it works to liberalize trade, ensure fair competition, and help developing countries.
Exim policy
The Export Import Policy or Exim Policy is a set of guidelines issued by the Indian government every five years that governs import and export regulations. It is updated annually on March 31st. The current policy period is 2022-2027. The Union Minister of Commerce and Industry announces changes to the policy after coordinating with related ministries and the Directorate General of Foreign Trade. Export Promotion Councils promote and support export firms by providing industry insights, promoting government schemes, collecting trade data, and organizing overseas tours and trade delegations. Membership in EPCs allows exporters access to trade advantages, opportunities to meet buyers, and stay updated on industry trends.
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The document discusses Keynes' consumption function, which posits that consumption is a function of income. It states that according to Keynes:
1) Consumption increases as income increases, but not by as much as the increase in income.
2) When income increases, the increment is divided between consumption spending and savings.
3) Both consumption spending and savings will rise as income increases.
The document then defines key terms in Keynes' consumption function analysis, such as average propensity to consume, marginal propensity to consume, average propensity to save, and marginal propensity to save.
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1. The document discusses consumption theory and how consumption relates to income through consumption functions. It defines consumption and savings functions and explains how to calculate them based on different income levels.
2. The aggregate expenditure model is introduced as a way to relate total spending in the economy to gross domestic product. The model shows equilibrium being reached at the point where total expenditures equal GDP, which can be seen via a Keynesian cross diagram.
3. Determinants of consumption and the calculation of equilibrium output are outlined. Equilibrium output is found using the consumption function equation and setting consumption equal to income to find the level where total expenditures and income are equal
Approaches used in Measuring ational income
There are three main approaches to measuring national income: the income approach, expenditure approach, and product/output approach. The income approach adds up all incomes received, the expenditure approach adds up all expenditures, and the product approach measures the total value of final goods produced. National income is determined by factors such as technology, human capital, policies, resources, and market size. While per capita income measures average income, it does not fully capture living standards. National income equilibrium is reached when aggregate demand equals aggregate supply according to the two-sector model.
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This document defines key macroeconomic concepts related to aggregate demand and supply. It explains that:
1. Aggregate demand is the total planned expenditure on final goods and services and equals consumption + investment + government spending + net exports. Consumption and investment make up aggregate demand in a simple two-sector economy.
2. Aggregate supply is the total planned output of final goods and services and equals national income. National income equals consumption + savings at the national level.
3. The consumption function shows the relationship between consumption and national income, where consumption has an autonomous and induced component. The marginal propensity to consume is the change in consumption from a change in income.
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Equilibrium level of income is Rs. 320 Crore.
Q2. If in an economy, C = 100 + 0.8Y and I = 50 + 0.1Y. Calculate equilibrium
level of income.
Answer: AD = AS
C + I = Y
100 + 0.8Y + 50 + 0.1Y = Y
150 + 0.9Y = Y
150 = 0.1Y
Y = 150/0.1 = Rs. 1500 Crore
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This document provides an overview of consumption functions and related economic concepts. It defines consumption expenditure and discusses its graphical representation. It also examines the relationship between consumption expenditure and factors like wealth, interest rates, and income. Key concepts discussed include the average propensity to consume, marginal propensity to consume, saving function, average propensity to save, and marginal propensity to save. Graphs are used to illustrate these relationships and how consumption and savings change with different levels of income.
Chapter 04 keynes income determination
The document discusses Keynes' income determination model and the concepts of consumption, saving, investment, and equilibrium. It can be summarized as:
1) The model shows how consumption, saving, and investment determine aggregate demand and income in a simple two-sector closed economy.
2) Consumption depends on income and is modeled as C = Ca + cY, where Ca is autonomous consumption and cY is induced consumption. Saving is the portion of income not consumed.
3) Equilibrium occurs where aggregate expenditure (C + I) equals total income, as shown by the intersection of the AE and 45-degree lines. At this point, planned saving equals planned investment.
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This document discusses key concepts in economics related to income determination, including MPC, MPS, APC, APS, consumption functions, and the AD-AS approaches. It provides examples and solutions to calculate these values based on income and consumption data. It also reviews investment functions, full employment, and definitions of related economic equilibrium states.
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1) Keynes argued that consumption is determined by disposable income and other factors. Empirical studies from 1929-1941 estimated the consumption function as C = 26.5 + 0.75Yd, supporting Keynes' theory.
2) Kuznets' data from 1869-1938 showed average propensity to consume remained constant despite rising income, contradicting Keynesian predictions.
3) The life cycle and permanent income hypotheses were proposed as alternative explanations for consumption, arguing it depends on lifetime rather than current income. They better explained post-war consumption levels.
Consumption function
The document summarizes Keynes' psychological law of consumption, which states that as income increases, consumption increases but by less than the increase in income. It defines the consumption function and shows it represented as C=f(Y). Keynes proposed that consumption has both an autonomous and induced component. The law has three related propositions: 1) consumption increases as income rises but by a smaller amount, 2) the increased income is divided between consumption and savings, and 3) rises in income increase both consumption and savings. The law is illustrated using a table and consumption diagram. It assumes a stable psychological and institutional environment for the capitalist economy.
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1. The document discusses Keynesian economics and the functions of consumption and investment.
2. According to Keynesian theory, consumption is a function of national income, and consumption and investment determine a nation's total demand and output.
3. Keynes argued that consumption depends on current income levels, and will increase as income increases but at a decreasing rate, while investment depends on expected future income levels and demand conditions.
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This document outlines the concepts of the consumption function and the multiplier effect in economics. It discusses:
1) The Keynesian consumption function, which models consumption (C) as a function of income (Y), where consumption has an autonomous and income-induced component. The marginal propensity to consume (MPC) describes how much of additional income is spent on consumption.
2) The multiplier effect, where an initial change to autonomous consumption or government spending (G) generates further rounds of consumption through the MPC, cumulatively increasing income (Y) by a multiplier amount.
3) The multiplier (k) is calculated as the change in income (ΔY) divided by the initial change in
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This document provides an overview of several prominent theories of consumption, including:
1) John Maynard Keynes' theory that current consumption depends on current income. Later theories found problems with Keynes' prediction that consumption would grow more slowly than income over time.
2) Irving Fisher's intertemporal choice theory, which assumes consumers maximize lifetime satisfaction subject to an intertemporal budget constraint. This theory formed the basis for later work on consumption.
3) Franco Modigliani's life-cycle hypothesis, which proposes consumption depends on lifetime resources and income varies systematically over a consumer's life cycle, allowing saving to achieve smooth consumption. This theory helped solve the "consumption puzzle."
4)
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The document discusses key concepts related to consumption functions, including:
1) Consumption depends mainly on current income but is also influenced by other factors like interest rates and wealth. As income rises, consumption increases at a lower rate due to savings.
2) Average Propensity to Consume (APC) and Marginal Propensity to Consume (MPC) measure the relationship between consumption and income. APC is the ratio of total consumption to total income, while MPC is the change in consumption over a change in income.
3) Effective demand, the combination of consumption and investment demand, must remain high to maintain employment levels. Investment demand depends on the marginal efficiency of capital (MEC).
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The document discusses key concepts in macroeconomics such as aggregate demand, aggregate supply, equilibrium output, and the multiplier effect. It defines ex-ante demand as planned demand and ex-post demand as actual demand. Aggregate demand is the total final expenditure and is affected by consumption, investment, government spending, and net exports. Equilibrium output occurs at the point where aggregate demand and supply intersect. The investment multiplier shows that a change in investment leads to a greater change in total income through subsequent rounds of spending.
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This document discusses key concepts related to consumption functions in economics. It defines consumption as aggregate expenditure on goods and services to satisfy wants. Consumption is determined by and a function of income (C=f(Y)). The simple consumption function is expressed as C=C0+C1Y, where C0 is autonomous consumption and C1 is the marginal propensity to consume. Autonomous consumption refers to minimum spending needed even without income. The document also discusses average and marginal propensity to consume, save, and invest, and how these relate to the multiplier concept in economics.
Keynes’s psychological law of consumption
1) Keynes proposed a psychological law of consumption which states that as income increases, consumption increases but not proportionately. The marginal propensity to consume is less than one.
2) Consumption depends mainly on current income. As income rises, the proportion of income spent on consumption (average propensity to consume) falls.
3) Keynes' consumption function can be expressed as C = a + bYd, where C is consumption, Yd is disposable income, a is autonomous consumption, and b is the marginal propensity to consume (MPC), which is less than the average propensity to consume (APC).
Consumption function
The document discusses the consumption function, which models the relationship between total consumption and national income. Consumption is defined as an increasing function of income. The average propensity to consume (APC) is the ratio of consumption to income and declines as income rises. The marginal propensity to consume (MPC) is the change in consumption from a change in income and is assumed to be positive but less than 1. Keynes' psychological law of consumption states that consumption increases less than proportionately to increases in income. Determinants of consumption include subjective psychological factors as well as objective factors like wages, fiscal policy, and interest rates. Theories like Duesenberry's relative income hypothesis model consumption as interdependent and influenced by social
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The document discusses theories of consumption, including Keynes' consumption function which posits that consumption is primarily determined by current income. It also discusses later developments like the life-cycle hypothesis and permanent income hypothesis which argue consumption depends on lifetime or permanent income rather than just current income. The document also examines consumer optimization using indifference curves and budget constraints over multiple time periods.
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Internatioal institutions
The document provides information on several international financial institutions and organizations:
The International Monetary Fund (IMF) promotes international monetary cooperation and trade. Headquartered in Washington D.C., it has 189 member countries and oversees short-term lending to address members' balance of payments issues.
The World Bank aims to reduce poverty and promote shared prosperity. Based in Washington D.C., it provides long-term loans for development projects across 173 countries.
The World Trade Organization (WTO) facilitates global trade through negotiations and dispute resolution. With 164 members, it works to liberalize trade, ensure fair competition, and help developing countries.
Exim policy
The Export Import Policy or Exim Policy is a set of guidelines issued by the Indian government every five years that governs import and export regulations. It is updated annually on March 31st. The current policy period is 2022-2027. The Union Minister of Commerce and Industry announces changes to the policy after coordinating with related ministries and the Directorate General of Foreign Trade. Export Promotion Councils promote and support export firms by providing industry insights, promoting government schemes, collecting trade data, and organizing overseas tours and trade delegations. Membership in EPCs allows exporters access to trade advantages, opportunities to meet buyers, and stay updated on industry trends.
Internal financial institution
1. A bank is a business organization that deals in borrowing and lending money and makes a profit through interest charged on loans. The Central Bank, also known as the Reserve Bank of India, controls the country's money supply and promotes financial stability.
2. The Central Bank regulates other banks, acts as a lender of last resort, clears checks, and manages foreign exchange rates and monetary policy. Commercial banks accept deposits, lend funds, use checks, and provide other services like agency functions.
3. Export credit agencies provide insurance to exporters against payment risks and help recover bad debts. The Export Import Bank finances imports/exports and provides related services, while the IMF promotes exchange rate stability and balance of payments adjustments between
International Business
The balance of payments is a systematic record of a country's external economic transactions over a period of time. It includes visible and invisible items, recording transactions of both goods, services, and capital. The balance of trade is part of the current account and records only merchandise exports and imports, while the balance of payments provides a more complete picture of a country's international economic relations by also including financial and other non-physical flows. Imbalances in the balance of payments can be caused by factors like trade cycles, economic development, national income levels, and external borrowing. Currency appreciation means the domestic currency gains value against foreign currencies, while depreciation means it loses value.
Basic concepts in internatioal business
International business involves commercial activities that cross national borders. It is defined as business transactions conducted between countries. International business has several key features, including the involvement of multiple countries, the use of foreign exchange, different legal obligations between nations, exposure to risks in foreign markets, and heavy documentation requirements due to differences in economic environments and business practices across borders.
Internatioal business
This document provides an overview of 5 units related to international business:
Unit I defines international business and compares it to domestic business. Unit II covers balance of trade, balance of payments, and exchange rates. Unit III discusses domestic support institutions for exports like RBI, commercial banks, and ECGC. Unit IV discusses international support institutions like IMF, World Bank, WTO, and the Eurodollar market. Unit V briefly mentions the Indian government's EXIM policy and export councils.
Poverty & Unemplyment
The document discusses poverty and unemployment in India. It defines poverty as individuals who cannot meet basic needs like food and shelter due to insufficient income. It also defines unemployment as people who are willing and able to work but cannot find employment. Some key points made include:
- Over 350 million people in India still live below the poverty line according to recent UN reports.
- Many government schemes have been implemented to reduce poverty and generate employment, such as NREGA, but poverty and unemployment remain significant problems.
- Causes of poverty include population growth, lack of economic development, and low levels of education. Causes of unemployment include a lack of job creation and a mismatch between skills and available jobs.
Exchange Control & Exchange Rate
Exchange control aims to balance a country's foreign receipts and payments through indirect government control of foreign exchange rather than flexible exchange rates or market forces. It involves regulating all foreign currency receipts and payments. The objectives of exchange control include stabilizing exchange rates, preventing capital flight, protecting domestic industries, checking non-essential imports, and remedying unfavorable balance of payments. Methods of exchange control include direct methods like intervention, exchange restrictions, and clearing agreements as well as indirect methods like quantitative restrictions, export bounties, and interest rate adjustments.
FREE TRADE AND PROTECTION
This document discusses free trade and protectionism in economics. It defines free trade as a policy without tariffs or other trade barriers between countries. The advantages listed include comparative cost advantage, increased factor earnings, cheaper imports, an enlarged market, competition, and greater welfare. However, the document also notes arguments against free trade such as imperfect competition and one-sided development. Protectionism is then defined as encouraging domestic industries through subsidies or tariffs on foreign goods. The document provides several economic and non-economic arguments for protectionism, such as terms of trade and infant industries, as well as defense, patriotism, and preservation of certain industries. It concludes by acknowledging some of the difficulties in assessing and implementing these policies.
Balance of Payments
The document discusses balance of trade, balance of payments, causes of disequilibrium in balance of payments, and measures to correct disequilibrium. It defines balance of trade as the difference between a country's exports and imports of visible goods over a period of time. Balance of payments is a record of all external transactions, including goods, services, and capital flows. Causes of disequilibrium include trade cycles, population growth, external borrowing, and inflation. Measures to correct disequilibrium involve monetary actions like depreciation or devaluation, and non-monetary actions like tariffs, quotas, or export promotion policies.
Terms of trade
The gains from international trade depend on a country's terms of trade, which is the ratio of export prices to import prices. There are three main types of terms of trade: 1) Net barter terms of trade, which is the ratio of export price index to import price index; 2) Gross barter terms of trade, which is an index of import quantities to export quantities; 3) Income terms of trade, which is the net barter terms multiplied by the export volume index. The terms of trade can be influenced by factors like the elasticity of demand, the nature of supply and production, a country's size, population, exchange rates, and trade policies.
Terms of trade
The gains from international trade depend on a country's terms of trade, which is the ratio of export prices to import prices. There are three main types of terms of trade: 1) Net barter terms of trade, which is the ratio of export price index to import price index; 2) Gross barter terms of trade, which is an index of import quantities to export quantities; 3) Income terms of trade, which is the net barter terms multiplied by the export volume index. The terms of trade can be influenced by factors like the elasticity of demand, nature of supply and production, size of the country, population size, exchange rates, and trade policies.
INTERNATIONAL ECONOMICS
This document provides an overview of different theories of international trade, including:
- Absolute advantage theory proposed by Adam Smith which states that countries should specialize in goods they have an absolute cost advantage in.
- Comparative advantage theory by Ricardo which expanded on this to show benefits of specialization based on comparative rather than absolute costs.
- Modern theories like Heckscher-Ohlin which propose that differences in factor endowments between countries (e.g. capital vs. labor) lead to trade in factor-intensive goods.
It also outlines key assumptions and limitations of each theory, and differences between internal and international trade.
General economics
Public Finance - Sources of Public Revenue - Principles of Taxation -Public Expenditure and Public Debt – Meaning and Causes for Growth.
General Economics
The document discusses international trade and key organizations involved. It defines the balance of trade and balance of payments, noting key differences. Causes of disequilibrium in the balance of payments are provided. The objectives and functions of the International Monetary Fund (IMF), International Bank for Reconstruction and Development (World Bank), and World Trade Organization (WTO) are summarized.
General Economics
It deals Money - types - functions of Money - Banking - types- Functions of commercial Banks - functions of Central Bank
General Economics
This document provides an overview of key concepts related to national income and macroeconomics, including:
1) National income is defined as the total market value of all final goods and services produced in an economy in a year.
2) Key concepts in measuring national income include gross domestic product, net domestic product, gross national product, national income, and per capita income.
3) National income can be measured using the product method, income method, and expenditure method.
4) The document also summarizes theories related to rent, wages, interest, and profit, including the Ricardian theory of rent, wage fund theory, Keynesian liquidity preference theory of interest, and Schumpeter
General Economics
This document discusses several economic concepts related to factors of production. It defines factors of production as resources that contribute to output, including land, labor, capital and organization. It then provides more details on the characteristics and definitions of specific factors:
- Land refers to natural resources and includes characteristics like being a gift of nature, fixed quantity, and differing fertility.
- Labor means any work and has characteristics of being perishable, active, and heterogeneous.
- Capital is man-made, productive, mobile and elastic in supply.
It also discusses division of labor and its advantages like increased output and quality, and disadvantages such as monotony. Localization of industry and its causes, advantages like reputation and
General Economics
The document discusses three economic concepts:
1) The law of diminishing marginal utility, which states that the additional benefit a person derives from consuming more of a good diminishes with each additional unit consumed.
2) The law of equi-marginal utility, which assumes consumers rationally allocate spending to equalize marginal utility across goods given prices and income.
3) Elasticity of supply, which measures how responsive the quantity supplied is to changes in price.
General Economics
This document discusses elasticity of demand, including price elasticity of demand and other types. It defines elasticity of demand as the responsiveness of quantity demanded to changes in price, income, prices of related goods, and advertising. The document outlines different types of elasticity - price elasticity of demand, income elasticity of demand, cross elasticity of demand, and advertising elasticity of demand. It also discusses methods of measuring elasticity and uses of understanding elasticity of demand.
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Fabular Frames and the Four Ratio Problem
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
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Monthly Market Risk Update: June 2024 [SlideShare]
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如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】外观非常简单，由纸质材料制成，上面印有校徽、校名、毕业生姓名、专业等信息。
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】格式相对统一，各专业都有相应的模板。通常包括以下部分：
校徽：象征着学校的荣誉和传承。
校名:学校英文全称
授予学位：本部分将注明获得的具体学位名称。
毕业生姓名：这是最重要的信息之一，标志着该证书是由特定人员获得的。
颁发日期：这是毕业正式生效的时间，也代表着毕业生学业的结束。
其他信息：根据不同的专业和学位，可能会有一些特定的信息或章节。
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】价值很高，需要妥善保管。一般来说，应放置在安全、干燥、防潮的地方，避免长时间暴露在阳光下。如需使用，最好使用复印件而不是原件，以免丢失。
综上所述，办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】是证明身份和学历的高价值文件。外观简单庄重，格式统一，包括重要的个人信息和发布日期。对持有人来说，妥善保管是非常重要的。
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1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
原版定制【微信:bwp0011】《(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
原版定制【微信:bwp0011】《(nwu毕业证书)美国西北大学毕业证学位证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
TechnoXander Confirmation of Payee Product Pack 1.pdf
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Dr. Alyce Su Cover Story - China's Investment Leader
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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Macro economics
- 1. Meaning of Consumption Function Symbolically, the relationship is represented as C= f (Y) Where, C = Consumption Y = Income f = Function
- 2. Table: 1 Income - Consumption Schedule (₹Crores)
- 3. Technical Attributes of the Consumption Function
- 5. (1) The Average Propensity to Consume: The average propensity to consume is the ratio of consumption expenditure to any particular level of income.” Algebraically it may be expressed as under: • APC = C/Y C= Consumption Y = Income
- 6. (2) The Marginal Propensity to Consume: The marginal propensity to consume may be defined as the ratio of the change in the consumption to the change in income. Algebraically it may be expressed as under: MPC = ∆C/∆Y Where ΔC= Change in Consumption ΔY = Change in Income MPC is positive but less than unity 0 < ∆C/∆Y < 1
- 7. (3) The Average Propensity to Save (APS) : The average propensity to save is the ratio of saving to income. APS is the quotient obtained by dividing the total saving by the total income. In other words, it is the ratio of total savings to total income. It can be expressed algebraically in the form of equation as under APS = S/Y Where S= Saving Y=Income
- 8. 4 .The Marginal Propensity to Save (MPS) • Marginal Propensity to Save is the ratio of change in saving to a change in income. MPS is obtained by dividing change in savings by change in income. It can be expressed algebraically as MPS = ∆S/∆Y ΔS = Change in Saving ΔY= Change in Income
- 10. Keynes’s Psychological Law of Consumption
- 11. Keynes’s Law is based on the following assumptions: 1. Ceteris paribus (constant extraneous variables): 2. 2. Existence of Normal Conditions: 3. 3. Existence of a Laissez-faire Capitalist Economy: •Propositions of the Law:
- 12. Keynes’s Psychological Law of Consumption:
- 13. Proposition (1): When income increases from 120 to 180 consumption also increases from 120 to 170 but the increase in consumption is less than the increase in income, 10 is saved. Proposition (2): When income increases to 180 and 240, it is divided in some proportion between consumption by 170 and 220 and saving by 10 and 20 respectively. Proposition (3): Increases in income to 180 and 240 lead to increased consumption 170 and 220 and increased saving 20 and 10 than before. It is clear from the widening area below the С curve and the saving gap between 45° line and С curve.
- 14. 4. Determinants of Consumption function: Subjective and Objective Factors A) Subjective Factors 1. The motive of foresight 2.The motive of precaution 3. The motive of calculation 4.The motive of improvement: 5. The motive of financial independence 6. The motive of enterprise (desire to do forward trading). 7. The motive of pride.(desire to bequeath a fortune) 8. The motive of avarice.(purely miserly instinct)
- 15. B) Objective Factors 1) Income Distribution 2) Price level 3) Wage level 4) Interest rate 5) Fiscal Policy 6) Consumer credit 7) Demographic factors 8) Duesenberry hypothesis 9) Windfall Gains or losses
- 16. THANK YOU