Examlex
Categorical scales represent scales that are either nominal or ordinal.
Marginal Propensity
Typically refers to the marginal propensity to consume (MPC), which is the proportion of an additional income that a consumer spends on goods and services as opposed to saving it.
Disposable Income
The income available for saving and spending after the deduction of income taxes from earnings is known as disposable income.
Consumption
The process by which goods and services are used up or consumed, typically referring to household consumption in economics.
Average Propensity
Average Propensity refers to the average tendency of individuals or entities, such as the average propensity to consume or save, measured over a specific period or income level.
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