| 单词 | optimum savings |
| 释义 | optimum savings The theory of answers to the question, what proportion of income should be saved and invested? There is a trade-off between present consumption and future growth: more consumption now means a lower marginal utility of consumption now, but less investment means slower growth of output, which limits the rate at which consumption can grow in the future. Optimum savings theory suggests that in a competitive economy the time-path of aggregate consumption should be chosen so that the marginal utility of consumption decreases over time at a rate equal to the marginal product of capital. |
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