Question
MPS is defined as:
The correct answer is
Change in savings per unit change in income
Marginal Propensity to Save (MPS) is defined as the change in savings resulting from a change in income. Mathematically, it is expressed as:
MPS = ΔS / ΔY
Where:
ΔS = Change in savings
ΔY = Change in income
It represents the fraction of additional income that is saved rather than spent.
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Important Questions from Determination of Income and Employment
Identify the term that is called National Income of an Economy:
In 1955, a committee was formed for promoting Rural Development through small-scale industries. Choose the name of the committee from the following:
Identify the incorrect statement in the context of Employment:
Thermal power plant uses ________ to produce thermal energy:
What do you mean by FRBMA?
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