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the production function for the economy is Y = K1/4(EL)3/4, the marginal propensity to consume is 70% the depreciation rate is 2%, the rate of technological progress is 1%, and the population growth rate is 2

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the production function for the economy is Y = K1/4(EL)3/4, the marginal propensity to consume is 70%

the depreciation rate is 2%, the rate of technological progress is 1%, and the population growth rate is 2.5%.

In this question, "the marginal propensity to consume" means households save 30%? because it means household consume 70%?