Examlex
If disposable income decreases,the average propensity to consume will
Tax Rate Reductions
A decrease in the percentage at which income or transactions are taxed by governmental authorities.
Price Inelastic
A situation where the demand for a good or service remains relatively unchanged despite changes in its price.
Consumption
The use of goods and services by households or individuals, often considered in terms of the total amount consumed in an economy.
Allocation of Resources
The process of distributing available resources among various uses to satisfy the needs and wants of the society.
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