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Consumer Adjusts Marginal Propensity To ConsumeDecember 3rd, 2001
NEW YORK CITY -- Marie Geonson, of St. Louis, Minnesota announced today that she would adjust her marginal propensity to consume (MPC) upward from .73 to .76, larger than the 2 point swing analysts had been expecting.
The MPC is the proportion of every dollar of income that a consumer chooses to expend rather than save or invest. In a statement read at the Manhatten Hyatt Hotel, Geonson said her decision was made to help bolster the sagging economy. "In these times of economic contraction, we all must do our part to increase total consumption while adjusting for marginal product of consumption at minimal levels," she said. Geonson joins a slew of economic actors including the Federal Reserve and Treasury Department adjusting policy to maintain long-term growth. |
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