Question #249227
6. ⠀ œAlong the consumption function, income changes more than consumption.⠀  What does this imply for the MPC and MPS?
1
Expert's answer
2021-10-13T10:05:06-0400

The marginal propensity to consume (MPC) measures the change in consumption as a result of a change in income. Similarly, MPS refers to a change in savings as a result of a change in a person's income.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Place free inquiry
Calculate the price
Learn more about our help with Assignments: Macroeconomics

Comments

No comments. Be the first!
Our fields of expertise
Submit Your Assignment. We Can Do It.
LATEST TUTORIALS
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult. You can find this expert in "Assignmentexpert.com" with confidence. Exceptional experts! I appreciate your help. God bless you!
Canada #340153 on Dec 2023