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Answer to Question #249227 in Macroeconomics for Biba

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.


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