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INDUCED EXPENDITURE: An aggregate expenditure (consumption, investment, government purchases, and net exports) that depends on national income or gross domestic product. These four aggregate expenditures are conveniently separated into two types, induced, which is our current topic of expenditures unrelated to national income or GDP, and autonomous expenditures, expenditures which are unrelated to national income or GDP. Induced expenditures are graphically depicted as the slope of the aggregate expenditures line, and depend in large part on the marginal propensity to consume. The induced relation between income and expenditures form the foundation of the multiplier effect triggered by changes in autonomous expenditures.
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Lesson Contents
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Unit 1: Intro |
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Unit 2: Revenue And Cost |
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Unit 3: Output |
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Unit 4: Analysis |
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Unit 5: Evaluation | |
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Monopolistic Competition
- The first unit of this lesson, A Bunch Of Firms, begins this lesson with a look at the nature of monopolistic competition and how it is related to other market structures.
- In the second unit, Revenue And Cost, we review the revenue side and the cost side the production decision for a monopolistically competitive firm.
- The third unit, The Output Level, then looks at the profit-maximizing output production decision by a firm in monopolistic competition.
- In the fourth unit, Doing Some Analysis, we examine a few of the implications of market characterized by monopolistic competition.
- The fifth and final unit, Good Or Bad?, then closes this lesson by considering the good and the bad of monopolistic competition.
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AD VALOREM TAX A tax specified as a percentage of the price or value of a good, service, asset, or other activity. Ad valorem taxes tend to be broad based, imposed on activities such as income and retail sales. In fact, the two most important ad valorem taxes are income taxes and sales taxes. People pay a percentage of their incomes in income taxes or a percentage or the value of their purchases in sales taxes, regardless of the amount of time spent working or the quantities of goods purchases. An alternative is a per unit tax, with is a tax specified as a percentage of the physical quantity of a good.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either rechargeable batteries or a rechargeable battery for your computer. Be on the lookout for neighborhood pets, especially belligerent parrots.
Your Complete Scope
This isn't me! What am I?
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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SRO
Self-regulatory Organizations
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