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IMPLICIT PRICE DEFLATOR: A price index calculated as the ratio nominal gross domestic product to real gross domestic product. Also commonly referred to as the GDP price deflator, the implicit price deflator is used as an indicator of the economy's average price level. This price index is tabulated and reported every three months along with the gross domestic product, national income, and related measures that make up the National Income and Product Accounts maintained by the Bureau of Economic Analysis (BEA).
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MARGINAL PROPENSITY FOR GOVERNMENT PURCHASES The change in government purchases induced by a change in income or production (national income or gross domestic product). The marginal propensity for government purchases (abbreviated MPG) is another term for the slope of the government purchases line and is calculated as the change in government purchases divided by the change in income or production. The MPG plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part of the multiplier process. A related marginal measure is the marginal propensity to consume.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for slightly overweight pizza delivery guys.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The greatest barrier to success is the fear of failure." -- Sven Goran Eriksson, writer
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AAT
Association of Accounting Technicians
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