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MARGINAL PROPENSITY TO SAVE: The proportion of each additional dollar of household income that is used for saving. Or alternatively, this is the change in saving due to a change in disposable income. Abbreviated MPS, the marginal propensity to save is the slope of the saving or propensity-to-save line. It also takes center stage for the multiplier effect. In particular, the inverse of the MPS is the simple expenditure multiplier. The sum of the marginal propensity to save and the related concept, the marginal propensity to consume, is equal to one.

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Lesson 8: Market Shocks | Unit 4: Double Shifts Page: 16 of 20

Topic: Less Demand and More Supply <=PAGE BACK | PAGE NEXT=>

Here we have demand decreasing (tastes change) and supply increasing (technological breakthrough).
  • A decrease in demand causes a decrease in both price and quantity.
  • An increase supply causes price to decrease and quantity to increase.
  • The combined effect is an obvious decrease in price but a questionable change in quantity.
  • At the new equilibrium the quantity is indeterminant.
  • If demand and supply curve shift in opposite directions, then quantity is indeterminant, but price is known.

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LAW

A generally accepted, verified, proven, fundamental scientific relation. A law is a scientifically certified, thoroughly verified, cause-and-effect relation about the workings of the world. It has been tested and retested through the scientific method. The law of demand, law of increasing opportunity cost, and law of diminishing marginal utility are three fundamental (and extremely important) economic laws of nature.

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APLS

BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for letters from the Internal Revenue Service.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

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Autoregressive Conditional Heteroskedasticity
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