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The slope of a graph of the consumption function equals the marginal propensity to consume.
The MPC represents the portion of disposable income that is spent rather than saved.
Personal Services
Services provided to individuals that may include care, advice, or professional work, typically requiring personal skills or effort.
Executory Contract
A contract under which both parties have obligations that are yet to be fulfilled.
Materially Change
To make significant alterations that could affect the fundamental nature or essence of something.
Prohibits Assignment
A clause or legal principle that prevents the transfer of a contract or right from one party to another.
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