March 17, 2018 

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SLOPE, SAVING LINE: The positive slope of the saving line is also termed the marginal propensity to save (MPS). This slope is greater than zero but less than one, reflecting induced saving and the Keynesian psychological law of consumer behavior that saving increases by less than the increase in income. The slope of the saving line provides the foundation for the slope of the leakages line used in the injections-leakages model. It thus also affects the magnitude of the multiplier process.

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Lesson 9: Macro Basics | Unit 2: Macro Problems Page: 4 of 16

Topic: The Goals <=PAGE BACK | PAGE NEXT=>

A modern, complex economy like the U.S. economy pursues three macro goals:
  • Full employment: Using all available resources for production.
  • Stability: Avoiding inflation and/or fluctuations in the economy.
  • Growth: Lessening the problem of scarcity by increasing production capabilities.
  • We always pursue these goals but conflicts mean we cannot reach them at the same time.
  • More conflicts result from pursuit of the micro goals of efficiency and equity.
  • Macroeconomic problems from not reaching this goals are: production, unemployment, and inflation.

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Another term for the business sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, consumers as the third estate, and journalists as the fourth estate.

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Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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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.
"If football taught me anything about business, it is that you win the game one play at a time."

-- Fran Tarkenton, Football Player

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