This chapter focuses on the math of Keynesian economics. We will use different techniques to determine the degree to which fiscal policy ought to be used to fix problems at hand.
Define:
1. Consumption
2. Savings
3. Average Propensity to Consume
4. Average Propensity to Save
5. Marginal Propensity to Consume
6. Marginal Propensity to Save
Identify the mathematical calculation for:
a. APC
b. APS
c. MPC
d. MPS
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