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APC: The abbreviation for average propensity to consume, which is the proportion of income, usually measured as disposable income or national income, used for household consumption expenditures. It is found by dividing consumption by income. The average propensity to consume, abbreviated APC, most often pops up in discussions of Keynesian economics. The average propensity to consume is the average amount of total household income that is devoted consumption expenditures.

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CONTRIBUTIVE STANDARD

An income distribution standard in which income is divided among members of society based on the value of each person's contribution to production. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the equality standard and the needs standard.

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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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APR
Annual Percentage Rate
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