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정진호교수 맨큐의 경제학 20단원

저작시기 2014.07 |등록일 2014.11.23 워드파일MS 워드 (docx) | 1페이지 | 가격 700원

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Life cycle is the regular pattern of income variation over a person's life.
Because people can borrow and save to smooth out life cycle changes in income, their standard of living in any year depends more on lifetime income than on that year's income. This normal life cycle pattern causes inequality in the distribution of annual income.
Income vary over people's lives not only because of predictable life cycle variation but also because of random and transitory forces.

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