The traditional calculation approach and results of taxation multiplier and transfer payment multiplier are liable to mistakes as they confuse the marginal consumption propensity of disposable income with that of real income.

• 在比例税下传统的税收乘数和政府转移支付乘数的计算方式和结果可能是错误的,原因在于混淆了可支配收入的边际消费倾向和收入的边际消费倾向,把税前收入的边际消费倾向误解为税后可支配收入的边际消费倾向。