Each individual reaches a decision--each individual has an income point and decides how much to consume based on the budget constraint.

在预算限制内,每个人都要决定将收入的多少,用于消费

耶鲁公开课 - 金融市场课程节选

A person has a budget constraint if the person can borrow and lend at the interest rate.

在某一利率下,人都有自己的预算限制

耶鲁公开课 - 金融市场课程节选