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The marginal propensity to save is equal to the change in consumption divided by the change in income.
Developed Countries
Nations with advanced economic systems, higher standards of living, and well-established infrastructures, often characterized by high Gross Domestic Product (GDP) per capita.
Balance-of-Payment Deficits
A situation where the total amount of money a country spends on foreign trade is greater than the amount it earns from such trade.
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