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Question 1 Precisely how do the APC and the MPC differ?Why must the sum of the MPC and the MPS equal 1?What are the basic

Question 1

Precisely how do the APC and the MPC differ?Why must the sum of the MPC and the MPS equal 1?What are the basic determinants of the consumption and saving schedules?

Question 2

What is the multiplier effect?What relationship does the MPC bear to the size of the multiplier?The MPS?

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