Consumption function

In economics, the consumption function describes a relationship between consumption and disposable income. Algebraically, this means $C = f(Y_{d})$ where $f \colon \mathbb{R} \to \mathbb{R}$ is a function that maps levels of disposable income $Y_{d}$ —income after government intervention, such as taxes or transfer payments—into levels of consumption $C$ . The concept is believed to have been introduced into macroeconomics by John Maynard Keynes in 1936, who used it to develop the notion of a government spending multiplier. Its simplest form is the linear consumption function used frequently in simple Keynesian models:

单词	Consumption function
释义	Consumption function 英语百科 Consumption function In economics, the consumption function describes a relationship between consumption and disposable income. Algebraically, this means $C = f(Y_{d})$ where $f \colon \mathbb{R} \to \mathbb{R}$ is a function that maps levels of disposable income $Y_{d}$ —income after government intervention, such as taxes or transfer payments—into levels of consumption $C$ . The concept is believed to have been introduced into macroeconomics by John Maynard Keynes in 1936, who used it to develop the notion of a government spending multiplier. Its simplest form is the linear consumption function used frequently in simple Keynesian models:
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