Essentially, what the precautionary-saving literature says is that more uncertainty reduces the average propensity to consume (APC), the ratio of consumption to income.

从本质上讲，预防性储蓄理论说的是，更多的不确定性会降低平均消费倾向(APC)，即比消费与收入的比率。

youdao

Those with high cash levels can more easily bear the effects of the uncertainty and would change their consumption less.

而那些手头现金很多的人，对不确定性带来的影响的承受能力更强，他们消费的改变也相应较少。

youdao

Is why, he intimates, I fail to appreciate the consumption decisions facing real people who face substantial uncertainty.

这就是为什么他暗示，我不能理解那些面临巨大不确定性的人们所作出的消费决定。

youdao

Economic uncertainty has acted as a drag on consumption.

ECONOMIST: Banyan

While with income taxes we pay regardless, if a consumption tax were implemented Americans could put the federal government on a diet at the same time that economic uncertainty is forcing them to tighten their own belts.

FORBES: A Flat Tax Would Be Fine, A Consumption Tax True Perfection