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Edexcel Economics Theme 2 Exam Verified Questions and Answers Rated A+
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Marginal propensity to withdraw (MPW) - ANSWER-The increase in withdrawals from the circular flow (S + T + M) divided by the increase in income that caused them (i.e. change in W / change in Y); this is the same as the sum of the marginal propensity to save, tax and import (MPS + MPT + MPM). Multiplier or national income multiplier or Keynesian multiplier or real multiplier - ANSWER-The figure used to multiply a change in an injection into the circular flow, such as investment, to find the final change in income (assuming the injection is not determined by income). It is the ratio of the final change in income to the initial change in an injection. It can be calculated as 1 ________ 1 - MPC or 1 ___________________
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Edexcel Economics
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edexcel economics theme 2 exam verified questions
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edexcel economics theme 2 exam
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