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KITCHIN CYCLE: A cycle of economic activity lasting between 3 and 5 years that acquired the name of the first economist to study it, Joseph Kitchin. The Kitchin cycle is attributed to investment in inventories (especially for consumer goods). It is the one that is commonly at work when people are concerned with business-cycle contractions. This is also one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Juglar cycle, Kuznets cycle, and Kondratieff cycle.
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Lesson 11: Circular Flow | Unit 1: Basic Flow
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Page: 4 of 22
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Topic:
The Physical Flow
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Two sectors: household and business. Two markets: product and factor. - The physical flow is the counter-clockwise flow of resources from the household to business sector and production from the business to household sector.
- Production flows from the business sector (supply) to the household sector (demand) through the product markets.
- Resources flow from the household sector (demand) to the business (supply) sector through the factor markets.
- The household sector sells the resources through the factor markets and buy goods through the product markets.
- The business sector buys resources through the factor markets and sells goods through the product markets.
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INDUCED NET EXPORTS Net exports by the foreign sector that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in net exports. Induced net exports reflect the induced relation between imports and income, which means net exports decline as income increases. They are measured by the negative of the marginal propensity to import (MPM) and are reflected by the negative slope of net exports line. The alternative to induced net exports is autonomous net exports, which do not 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 the yellow pages looking to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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T-BOND
Treasury Bond
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