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Wealth effect

From Citizendium - Reading time: 1 min

Wealth effect [r]: The effect on spending decisions of changes in the perceived level of personal wealth. (Changes that are expected to be temporary are believed to have a smaller effect than those that are considered to be permanent.) [e]

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Licensed under CC BY-SA 3.0 | Source: https://citizendium.org/wiki/Wealth_effect
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