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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What determines the slope of a consumption function?

To determine

To state: The factors that determine the slope of consumption function.

Explanation

There are two marginal propensities in proportion to the income in relation to consumption and savings. One is the marginal propensity to consume (MPC) in which the proportion of income in regard to the expenditure on the consumption is seen. Another is the marginal propensity to save (MPS) in which the proportion of income in regard to the savings is seen

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