Explain the concept of disposable income in your own words. Consumption tracks disposable income very closely. If you ha...
Explain the concept of disposable income in your own words. Consumption tracks disposable income very closely. If you had more money, would you save more or would you spend it? Why do you think that is?
Homework Answers
Disposable income is the income left after paying taxes.Consumption is a direct function of disposable income.Higher the disposable income,higher the level of consumption.
If I had more more I would consume some of the it and save of it.The amount that I will consume will depend on my marginal propensity to consume(MPC).MPC is the ratio of change in consumption to change in income.
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