Problem
1. If disposable income is $ 10,000 and current consumption is $9000, what is the average propensity to consume (APC)? What is the average propensity to save (APS)?
2. If disposable income increases to $12,000, and consumption rises to $10,500, calculate the APC, APS, and the marginal propensities to consume (MPC) and save (MPS).
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.