1 What is the consumption function? 2. Define consumption 3. Define disposable income and state the symbol used. 4. Outline the equation of the consumption function 5. MPC is defined as ......... 6. How is MPC calculated? 7. If a consumer's MPC is 0.80, how much does he spend and how much does he save? 8. Why is the MPC not the same for all consumers? 9. What are the values of the MPC? 10. MPC + MPS =