According to the General Rules of Interpretation of Contracts,ordinary Words

question 66

True/False

According to the general rules of interpretation of contracts,ordinary words are given their general meanings and the technical ones are given their technical meaning.

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Definitions:

Induced Consumption

Consumer spending that increases as disposable income rises, and decreases as income falls.

Disposable Income

Net resources for spending and saving available to households after subtracting income taxes.

MPC

MPC, or Marginal Propensity to Consume, is the proportion of additional income that an individual spends on consumption.

APC

Average Propensity to Consume, the fraction of income that households spend on consumption as opposed to saving.