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Question
___________ is the ratio of saving to income.
___________ is the ratio of saving to income.
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Solution
The correct option is B Average propensity to save
APS refers to Average Propensity to save which defines the amount of savings in every 1 rupee of income for all level of income. It is expressed as the ration of saving to income in an economy.
Average propensity to save = S/Y where S is the savings and Y is the income in the economy.
APS refers to Average Propensity to save which defines the amount of savings in every 1 rupee of income for all level of income. It is expressed as the ration of saving to income in an economy.
Average propensity to save = S/Y where S is the savings and Y is the income in the economy.
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