Sandeep Garg class 12 macroeconomics solutions chapter 7, Aggregated Demand and Related Concepts, are explained by the expert economic teachers from the latest edition of Sandeep Garg macroeconomics class 12 textbook solutions.
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Sandeep Garg Solutions Class 12 – Chapter 7 – Part B
Calculate APC and APS from the following schedule
|Income in (Y) ₹||Consumption in (C) ₹||Savings in (S) ₹||APC
If APS is 0.6, then how much will be APC?
APC = 1 – APS
= 1 – 0.6
If MPC is 0.75, then how much will be MPS?
MPS = 1 – MPC
= 1 – 0.75
If the saving function, S = 1 20 + 0.3Y, then what will be the value of MPC?
0.3 indicates that MPS = 0.3
So, MPC = 1 – MPS
= 1 – 0.3
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What are the two kinds of propensities to save?
The two kinds of propensities to save are as follows:
1. Average propensity to save (APS)
2. Marginal propensity to save (MPS)
Mention the two components of aggregate supply.
The two components of aggregate supply are as follows:
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