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APC: The abbreviation for average propensity to consume, which is the proportion of income, usually measured as disposable income or national income, used for household consumption expenditures. It is found by dividing consumption by income. The average propensity to consume, abbreviated APC, most often pops up in discussions of Keynesian economics. The average propensity to consume is the average amount of total household income that is devoted consumption expenditures.

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Lesson 7: Market | Unit 5: The Method Page: 19 of 22

Topic: Too Little Production <=PAGE BACK | PAGE NEXT=>

This market has a 50-cent price and a 400-tape quantity in equilibrium.
  • Note the demand price and the supply price if the quantity is 300 tapes.
  • The demand price is 60 cents. This is the value of the good produced.
  • The supply price is 40 cents. This is the value of goods not produced.
  • Producing this quantity is the same as giving up 40 cents and getting 60 cents in return.
  • 300 tapes is not an efficient use of resources

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EXPORTS LINE

A graphical depiction of the relation between exports sold to the foreign sector and the economy's aggregate level of income or production. This relation is most important for deriving the net exports line, which plays a minor, but growing role in the study of Keynesian economics. An exports line is horizontal which indicates that exports are totally autonomous, with no induced component. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the net exports line, derived as the difference between the exports line and imports line, onto the consumption line, after adding investment expenditures and government purchases.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for deranged pelicans.
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This isn't me! What am I?

Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"Act well at the moment, and you have performed a good action for all eternity."

-- Johann Kaspar Lavater

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