The Gall-Peters Projection world map. While originally created by James Gall in 1885, the Gall-Peters Projection came into public consciousness in 1967 when Arno Peters championed it as a more accurate representation of the size of countries. It was considered controversial for calling into question the way the âthird-worldâ is represented.
APC stands for Medicare's ambulatory payment classification. Hospitals use Medicare APC codes to bill the federal government for hospital services given to Medicare and Medicaid patients. Every item, machine or procedure used to care for a Medicare or Medicaid patient has a specialized code that is submitted by the hospital during the billing process.
DEFINITION of 'Average Propensity To Consume'. The average propensity to consume (APC) refers to the percentage of income that is spent on goods and services rather than on savings. One can determine the percentage of income spent by dividing the average household consumption (what is spent) by the average household income (what is earned). The inverse of the average propensity to consume is the average propensity to save (APS).