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REAL INTEREST RATE: The market, or nominal interest rate, after adjusting for inflation. This is the interest rate lenders receive and borrowers pay expressed in real dollars. There two ways to think about the real interest rate, (1) the historical, after-the-fact, interest rate and (2) the desired interest rate lenders and borrowers have in mind when entering into a loan. The first one tells us the purchasing power of any interest payments received or paid. The second way of looking at the real interest rate is based on expectations of the future.
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EXPENDITURES MULTIPLIER A measure of the change in aggregate production caused by changes in an autonomous expenditure. The expenditures multiplier is the inverse of one minus the slope of the aggregate expenditures line. The simple expenditures multiplier includes ONLY induced consumption. More complex expenditures multipliers include other induced components. Two related multipliers are the tax multiplier, which measures the change in aggregate production caused by changes in taxes, and the balanced-budget multiplier which measures the change in aggregate production from equal changes in both taxes and government purchases.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a birthday greeting card for your father or a T-shirt commemorating the first day of spring. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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KSE
Korea Stock Exchange
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