Fundamental psychological law
id:
fundamental-psychological-law-286-15117117
title:
Fundamental psychological law
text:
In Keynesian macroeconomics, the Fundamental Psychological Law underlying the consumption function states that marginal propensity to consume (MPC) and marginal propensity to save (MPS) are greater than zero(0) but less than one(1)
MPC+MPS = 1 e.g. Whenever national income rises by $1 part of this will be consumed and part of this will be saved
brand slug:
wiki
category slug:
encyclopedia
description:
Concept in Keynesian economics
original url:
https://en.wikipedia.org/wiki/Fundamental_psychological_law
date created:
date modified:
2024-04-02T00:16:06Z
main entity:
{"identifier":"Q4338143","url":"https://www.wikidata.org/entity/Q4338143"}
image:
fields total:
13
integrity:
14