Difference between revisions of "Budget constraint"
(Created page with "Budget constraint is a diagram that shows the possible choices. ==Definition== According to Principles of Economics by Timothy Taylor (3rd edition), :Budget constra...") |
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[Budget constraint]]. A diagram that shows the possible choices. | :[[Budget constraint]]. A diagram that shows the possible choices. | ||
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
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| + | :[[Budget constraint]]. The limit that income places on expenditure. (Cf. intertemporal budget constraint.) | ||
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[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 16:49, 1 July 2020
Budget constraint is a diagram that shows the possible choices.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Budget constraint. A diagram that shows the possible choices.
According to Macroeconomics by Mankiw (7th edition),
- Budget constraint. The limit that income places on expenditure. (Cf. intertemporal budget constraint.)
