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What is MPC and MPS in economics?
What is MPC and MPS in economics?
Expert Solution
MPC stands for the Marginal Propensity To Consume.
- The MPC reflects the portion of every new dollar of disposable income earned that is consumed (i.e. buying goods and services) rather than saved.
MPS stands for the Marginal Propensity To Save.
- The MPS reflects the portion of every new dollar of disposable income earned that is saved (i.e. Cash put into a bank savings account or kept on hand) rather than consumed .
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