Define Average Propensity to Consume. How is it measured ?
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The average propensity to consume can be referred to as the percentage of income spent on goods and services by an individual. It is arrived at by dividing the total amount spent on household consumption by the total disposable income.
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The average propensity to consume can be referred to as the percentage of income spent on goods and services by an individual. It is arrived at by dividing the total amount spent on household consumption by the total disposable income.
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