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DECISION LAG: In the context of economic policies, a part of the implementation lag involving the time it takes for policy makers to determine the appropriate policy to undertake. Another part of the implementation lag is the action lag. For fiscal policy, this involves Congress and the President debating, passing, and signing legislation that changes government spending or taxes. For monetary policy, this involves a meeting among the members of the Federal Reserve Open Market Committee. The decision lag is usually shorter for monetary policy than fiscal policy.
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AUTONOMOUS GOVERNMENT PURCHASES Government purchases by the government sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in government purchases. Autonomous government purchases are best thought of as government purchases that the government sector undertake independent of income. They are measured by the intercept term of the government purchases line. The alternative to autonomous government purchases is induced government purchases, which do depend on income.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"I was always looking outside myself for strength and confidence, but it comes from within. It is there all the time. " -- Anna Freud, psychologist
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JGB
Japanese Government Bond
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