1a) Define and explain how we calculate the marginal propensity to consume and the marginal propensity to save.

b) How do we calculate the effects of real GDP on consumption expenditure and imports by using the marginal propensity to consume and the marginal propensity to import?

c)Does economic growth result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?

d)Describe three types of short-run macroeconomic equilibrium.

e)How do fluctuations in aggregate demand and short-run aggregate supply bring fluctuations in real GDP around potential GDP?