The relative income hypothesis which states that consumption is a function of current income relative to the highest level of income previously attained was propounded by which economist?

John Maynard Keynes
James Duesenberry
Adam Smith
Friedrich Hayek

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : James Duesenberry

The relative income hypothesis was developed by James Duesenberry. It states that an individual’s attitude to consumption and saving is dictated more by his income in relation to others than by abstract standard of living.

5 views Answered 2022-09-04 04:29

Related Questions

Which among the following is NOT a level of Government in India I. Local-level government II. State-level government III. National-level government?

1 Answers 4 Views

The question given below consists of a statement, followed by three arguments I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: The government is working on a plan to set up a waterway freight corridor to connect the mainland with the northeastern states via Bangladesh at a cost of Rs 5,000 crore. The move would substantially reduce the time taken to transport goods to the eight northeastern states and costs. Which of the following support the idea that the time of transportation will be reduced between the eight northeastern states Arguments: I.The proposed 900-km waterway would be used to transport freight from the northern and eastern states to the northeast and would start near Haldia in West Bengal, go to the Sundarbans, merge into the Padma river in Bangladesh and then join up with the Brahmaputra in Assam. II. Currently, highway connectivity to the northeastern states is patchy and transportation of goods by road entails a high cost and takes time. According to the ministry’s estimate, the waterway could help reduce the cost of transportation by about 70%. III. The government is already developing a waterway along the Ganga river between Haldia and Allahabad (1,620 km) at a cost of Rs 4,500 crore. This link will also be utilised for trade between India and Bangladesh.?

1 Answers 6 Views

The International Monetary Fund (IMF) on Monday appointed Gita Gopinath as its first female Chief Economist. Now, the IMF joins the OECD and World Bank in having a woman in the top economic role in the institution. Which of the following substantiates the given statement I: The IMF joins the OECD and World Bank in having a woman in the top economic role in the institution. II: The OECD and World Bank only have a woman in the top economic role in the institution. III: The International Monetary Fund (IMF) appointed its first female Chief Economist.?

1 Answers 4 Views

Which of these states was previously a union territory?

1 Answers 4 Views

In making decisions about important questions, it is desirable to be able to distinguish between strong and weak arguments. Strong arguments are those, which are both important and directly related to the question. Weak arguments are those, which are of minor importance and also may not be directly related to the question or may be related to a trivial aspect of the question. The questions below are followed by two arguments each numbered I and II. You have to decide which of the two arguments is the strong argument and which is the weak argument. Statement: Should alcohol be banned in India Arguments: Yes. Drinking alcohol is not ethically right. No. Banning alcohol would only lead to illegal consumption and raise the prices of the commodity without actually affecting its consumption.?

1 Answers 5 Views

Most experts feel that in spite of possessing all the technical skills required to be a batsman of the highest order, he is unlikely to be so due to lack of requisite temperament. He was guilty of throwing away his wicket several times after working hard to lay a strong foundation. His critics pointed out that until he addressed this problem, success at the highest level will continue to elude him. Which of the statements (s) below is/are logically valid and can be inferred from the above passage i) He was already a successful batsman at the highest level ii) He has to improve his temperament in order to become a great batsman iii) He failed to make many of his good starts count iv) Improving his technical skills will guarantee success.?

1 Answers 5 Views

Consider the following statements about velocity potential : 1. Velocity potential is a vector function similar to stream function. 2. It is a fully three dimensional function and not limited to two coordinates. 3. Velocity potential does not exist at stagnation points. 4. Velocity potential exists only if the flow is Irrotational. Which of these statements are correct?

1 Answers 6 Views

Match List I with List II List I List II Research Steps Characteristics (A) Research problem definition (I) Appropriateness of techniques and their application (B) Formulation of research hypothesis (II) Development of a conceptual framework which is in accord with hypothesis of research (C) Design of research (III) Defining the variables to be related in unambiguous terms (D) Data Analysis (IV) Academic and social value of the research question to be weighed Choose the correct answer from the options given below:?

1 Answers 9 Views

Which of the following income is generally chargeable under the head of income from other sources (A) Income from subletting house property (B) Director fee (C) Ground Rent (D) Agricultural Income from outside India (E) Insurance commission (F) Income from sale of securities Choose the most appropriate answer from the options given below:?

1 Answers 4 Views

Which of the following rules stands true while preparing a schedule of changes in working capital (A) An increase in current assets increases working capital (B) An increase in current assets decreases working capital (C) An increase in current liabilities decreases working capital (D) An increase in current liabilities increases working capital Choose the most appropriate answer from the options given below:?

1 Answers 5 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)