AP Macroeconomics-Module 16 and 17 Study Guide with Complete Solutions
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AP Macroeconomics
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AP Macroeconomics
AP Macroeconomics-Module 16 and 17
Study Guide with Complete Solutions
marginal propensity to consume (MPC) - Answer-The increase in consumer spending when income
rises by $1. Because consumers normally spend part but not all of an additional dollar of disposable
income, MPC is between 0 and 1....
AP Macroeconomics-Module 16 and 17
Study Guide with Complete Solutions
marginal propensity to consume (MPC) - Answer✔✔-The increase in consumer spending when income
rises by $1. Because consumers normally spend part but not all of an additional dollar of disposable
income, MPC is between 0 and 1.
marginal propensity to save (MPS) - Answer✔✔-The increase in household savings when disposable
income rises by $1
autonomous change in aggregate spending - Answer✔✔-An initial rise or fall in aggregate spending that
is the cause, not the result, of a series of income and spending changes
multiplier - Answer✔✔-The ratio of total change in real GDP caused by an autonomous change in
aggregate spending to the size of that autonomous change
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