the ratio of change in saving to change in income called
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the ratio of change in saving to change in income called average Prospensity
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The ratio of change in saving to change in income is called the marginal propensity to save
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Propensity to save is defined as the total income or the total increase in the income that the person saved, rather than the amount they spend on any goods.
- The marginal propensity to save is equal to the ratio of a change in saving to a change in income to the total change in the person's income or the total amount he saved.
- The average propensity is nothing but the total ratio of saving to the total income generated by that person.
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