Examlex
Discount refers to the process of earning interest on interest.
MPC
A measure of the rate at which consumers are likely to spend additional income, rather than save it.
APS
Average Propensity to Save; the proportion of income that an individual or population saves rather than spending on consumption.
Consumption Function
As income rises, consumption rises, but not as quickly.
John Maynard Keynes
A British economist whose theories on government intervention in economies (Keynesian economics) have greatly influenced modern macroeconomic policies, particularly regarding the use of fiscal and monetary measures.
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