|
INCOME EFFECT: One of two reasons for the law of demand and the negative slope of the market demand curve (the other is the substitution effect). The income effect results because a change in price gives buyers more real income, or the purchasing power of the income, even though money or nominal income remains the same. This causes changes in the quantity demanded of the good.
Visit the GLOSS*arama
|
|
|
|
Lesson 1: Economic Basics | Unit 4: Goals
|
Page: 13 of 18
|
- The three macroeconomic goals of full employment, stability, and growth.
- The two microeconomic goals of efficiency and equity.
- The tradeoffs that exist between the five economic goals and why the pursuit of one goal prevents pursuit of another.
|
|
|
|
|
|
SEIGNIORAGE The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.
Complete Entry | Visit the WEB*pedia |
|
|
GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for strangers with large satchels of used undergarments. Your Complete Scope
This isn't me! What am I?
|
|
Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
|
|
"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
|
|
CD Certificate of Deposit
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|