Your answer to the homework has to be more than five(5) sentnces for each question based on researched facts and logical analysis

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

2) Define multiplier effects, based on Keynesian Fiscal policy.

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

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

5) If MPC is larger, is the Multiplier bigger or smaller? why? explain based on the formula.