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10 terms

MACRO CRAM

STUDY
PLAY
APC (in laments' terms)
the ratio of consumption to income
MPC (in laments' terms)
the extra consumption generated by a dollar of extra income
marginal
extra
formula for MPC
ΔC/ΔYd
formula for MPS
ΔS/ΔYd
formula for APC
C/Yd
formula for APS
S/Yd
what is the difference between the APC and the MPC?
APC is how much people (on average) spend out of their annual income. MPC is how much people spend out of changes in income
1- MPC =
MPS
1- APC=
APS