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PLEASE PROVIDE THOROUGH EXPLANATIONS FOR EACH QUESTION. THANK YOU 1a.)Define MPC(marginal propensity to consume) , MPS(marginal propensity to save), APC(average propensity to consume) and APS(average

PLEASE PROVIDE THOROUGH EXPLANATIONS FOR EACH QUESTION. THANK YOU

1a.)Define MPC(marginal propensity to consume) , MPS(marginal propensity to save), APC(average propensity to consume) and APS(average propensity to save).

1b.) Define multiplier effects, based on Keynesian Fiscal policy.

1c.) When economy falls into a recession, what kind of fiscal policy is needed? Give a specific tool of fiscal policy.

1d.)Discuss the long run effects of "Crowding out" due to a short run expansionary fiscal Policy.

1e.)If MPC is larger, is the Multiplierbigger or smaller? why? explain based on the formula.

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