Effects of MPC and MPS to GDP
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Explain the relationship between the marginal propensity to consume and the marginal propensity to save. How do these two components affect GDP?
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Solution Summary
This solutions looks at how marginal propensity to consume and the marginal propensity to save affects the gross domestic product.
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Marginal propensity to consume (MPC) is a portion of the additional income of a worker ...
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