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What else can I help you with?
What is the proportion of disposable income spent to income saved?
Savings Rate
How can one determine the marginal propensity to consume?
To determine the marginal propensity to consume, divide the change in consumption by the change in income. This ratio shows the proportion of additional income that is spent on consumption.
What is the formula of the marginal propensity to withdraw?
MPW (Marginal Propensity to Withdraw) = Marginal Propensity to Save (MPS) + Marginal propensity to tax (MPT)+ Marginal Propensity to Import (MPM)MPS (proportion of additional income that is saved)=a change in Savings/ a change in National incomeMPT (Proportion of additional income that is taxed)=a change in Taxation/ a change in National incomeMPM (the proportion of additional income that is spent on imports)=a change in imports/ a change in National income
How much of each dollar spent by a consumer becomes income to someone else?
100%. "Every dollar of spending by a buyer is a dollar of income to a seller.". Income is the same as expenditure. (source: Mankiw economics text)
How the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
Where is the greatest proportion of the money spent by the federal government in any given year is used?
income security payments to individuals and national defense
What is the proportion of disposable income spent to income saved?
Savings Rate
How can one determine the marginal propensity to consume?
To determine the marginal propensity to consume, divide the change in consumption by the change in income. This ratio shows the proportion of additional income that is spent on consumption.
What is the formula of the marginal propensity to withdraw?
MPW (Marginal Propensity to Withdraw) = Marginal Propensity to Save (MPS) + Marginal propensity to tax (MPT)+ Marginal Propensity to Import (MPM)MPS (proportion of additional income that is saved)=a change in Savings/ a change in National incomeMPT (Proportion of additional income that is taxed)=a change in Taxation/ a change in National incomeMPM (the proportion of additional income that is spent on imports)=a change in imports/ a change in National income
What is engels law of consumption?
Engels law of consumption depicts that when our income is increased we spend less on food but spend more on durable goods, and when our income is decreased we spend more to fill primary needs(food, shelter, etc).
How much of each dollar spent by a consumer becomes income to someone else?
100%. "Every dollar of spending by a buyer is a dollar of income to a seller.". Income is the same as expenditure. (source: Mankiw economics text)
How the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
discribe Engel's law of consumption?
playwrights
Explain how the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
Explain how the decisions you make as a consumer influence the economy.?
everyone as a consumer affects the economy on what they spent and how they spent
Use of ratio and proportion in daily life?
A large proportion of my daily activities are spent in school.
What are the main determinant of price elasticity of demand in the Caribbean?
The availability of substitutes Habit- Forming Goods 'Luxuries' and 'necessities' The proportion of income which is spent on the commodity The long run and short run.
