How is Deaton's work on consumption specifically recognized?
Limitless Consumption Principle
Microeconomic Consumption Model
Deaton Paradox
Theory of Rational Consumption
Answer
The Deaton Paradox refers to the fact that Deaton's research found that the relationship between consumption and income is not as strong as one would expect. This is because Deaton found that people in poorer countries tend to consume more than people in richer countries, even when they have less income.
The Deaton Dilemma: Test Your Knowledge on Angus Deaton, the British Microeconomist
More Questions
Deaton's Nobel Prize-winning work helped understand the relationship between what?
Deaton comes from which part of the United Kingdom?
Deaton holds an important emeritus professor title named after which U.S. President?
What does the FBA stand for in Deaton's title?
Which sector is not directly a part of Deaton's primary research focus?
Related Quizzes
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox