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5 Terms

1
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What is the mpc?

The marginal propensity to consume and measures the proportion of any change in income that is spent on consumption.

2
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what is the equation for mpc?

MPC = (change in consumption)/(change in income)

3
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What happens to the slope if the mpc increases?

The slope would increase or become steeper

4
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Draw how a increase in mpc would affect the consumption function

OneNote

5
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Why is k used for the value of the multiplier?

K for keynes