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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 is the marginal propensity to consume, and how is it related to the marginal propensity to import?

To determine

The definition of marginal propensity to consume and its relation to the marginal propensity to import is to be determined.

Explanation

The MPC and MPI are, therefore, related to each other as both the propensities are dependent on the consumption of the household i.e. whether the expenditure is on domestic goods or imported goods.

It can be understood by this also that when there is a c...

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