It is possible to maintain a particular level of income in the advanced economy if all savings at that level are invested. Some of the most striking differences between the life cycle and simple Keynesian consumption function arise when their respective predictions of the response of budgeted consumption to these unanticipated changes in income and wealth are compared. It does not mean that the level of current income has no effect on current consumption under the life cycle hypothesis. It does have an effect because current income is one of the important constituents of total wealth. It shows that consumption is not only a function of income but income can also be a function of consumption. Rather, the apparent constancy of the APC suggested a long-run proportional consumption function (C ), such that the APC equals the MPC. Some criticisms of the absolute or the relative income hypothesis concern the occurrence of statistical artefacts [20]. To overcome these issues, we formulate the hypothesis that the distribution of health in a society is correlated with the distribution of income in that society and propose the analytical method framework. The method is focused on the calculation of Foster–Greer–Thorbecke (FGT) poverty indices using […]