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0
Time
1
2
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C1=C2
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YL2-T2
Time
0
1
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consumption
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30
40
50
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E1
C12
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slope=C02/C01
E0
C02
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|slope|=MRS(C02:C01)
C1
C11
C01
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t i @i tii? @MLic |i +U@h_@? ,^@*i?Ui AiLhi4 4T*it |@| i?iih |i
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Vhh Ulfdugr*v sdshu rq wkh *Ixqglqj V|vwhp*/ s1 4;9/ yroxph LY ri Wkh Zrunv dqg Fruuhvsrqghqfh
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Percentage
of GDP
25
Private saving
20
15
10
Public saving
5
0
-5
-10
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
Year
6}hi .bG h@|i @?_ TM*U t@?} ? #i?4@h!
L|iG h@|i t@?} t }hLtt t@?} Lu UL4T@?it @?_ LtiL*_t hi*@|i |L B# M*U t@?} t }hLtt TM*U t@?} hi*@|i |L B#
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OLiihc *i 6}hi .b _Lit ?L| tii4 ?UL?tt|i?| | +U@h_@? ,^@*i?Uic
| _Lit ?L| ThLi< |@| |i |iLhi4 t ULhhiU|c t?Ui |ihi 4@) Mi L|ih i T*@?@|L?t
uLh |i LMtihi_ hi*@|L?tT Mi|ii? Th@|i @?_ TM*U t@?} ?i TL|i?|@* ki)?it@?
i T*@?@|L? t |@| 6}hi .b t4T*) hiiU|t |i tLU@**i_ @|L4@|U t|@M*3iht M*|
?|L |i TM*U M_}i|G u |i Th@|i ThLTi?t|) |L t@i }Lit T uLh tL4i hi@tL?c |i
hit*|?} u@** ? UL?t4T|L? _i4@?_ ** |i?_ |L }i?ih@|i @ u@** ? iUL?L4U @U||)
U ? |h? ** ?Uhi@ti |i TM*U M_}i| _iU| M) @|L4@|U@**) hi_U?} }Lih?4i?|
hii?i uhL4 |@ it L? ?UL4i @?_ UL?t4T|L? @?_ M) @|L4@|U@**) ?Uhi@t?} TM*U
i Ti?tit L? ?i4T*L)4i?| Mi?i|t *|ih?@|i*)c u |i iUL?L4) t | M) tL4i L|ih
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4@) ?Uhi@ti |i Th@|i ThLTi?t|) |L t@i @| |i t@4i |4i @t | ?Uhi@tit |i M_}i|
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h@|i Lu i4T*L)4i?| @hi @ttLU@|i_ | hi_U|L?t ? |i @ih@}i ThLTi?t|) |L UL?t4ic
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?Uih|@?|) @ML| |i u|hie
1.1
0.94
employment rate
0.93
1.05
0.92
1
0.91
0.9
0.95
0.89
average propensity to
consume
0.9
0.88
0.85
1978
1980
1982
1984
1986
1988
1990
1992
1994
0.87
1996
6}hi .fG Ai h@|i Lu i4T*L)4i?| @?_ |i @ih@}i ThLTi?t|) |L UL?t4i
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Chapter 1. Consumption, Income and Wealth

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