Definition of Marginal Propensity to Import

Marginal Propensity to Import

Fraction of an increase in disposable income that is spent on imports.

Export-Import Bank (Ex-Im Bank)

The U.S. federal government agency that extends trade credits to U.S.
companies to facilitate the financing of U.S. exports.

Import-substitution development strategy

A development strategy followed by many Latin American
countries and other LDCs that emphasized import substitution - accomplished through protectionism - as the
route to economic growth.

Marginal

Incremental.

Marginal tax rate

The tax rate that would have to be paid on any additional dollars of taxable income earned.

Marginal cost

The cost of producing one extra unit.

Marginal cost

The incremental change in the unit cost of a product as a result of a
change in the volume of its production.

marginal tax rate

Additional taxes owed per dollar of additional income.

Average Propensity to Consume

Ratio of consumption to disposable income. See also marginal propensity to consume.

Average Propensity to Save

Ratio of saving to disposable income. See also marginal propensity to save.

Import

Foreign-produced good or service bought by us.

Import Quota

Restriction on the quantity of a foreign good that can be imported.

Marginal Propensity to Consume

Fraction of an increase in disposable income that is spent on consumption.

Marginal Propensity to Save

Fraction of an increase in disposable income that is saved.

Marginal Tax Rate

Percent of an increase in income paid in tax.

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