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SIMPLE EXPENDITURE MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in an aggregate expenditure (consumption expenditures, investment expenditures, government purchases, or net exports) when consumption is the only induced expenditure. This is the least complicated expenditure multiplier possible, based exclusively on induced consumption, and is the inverse of the marginal propensity to save. This simple multiplier becomes more complicated by adding other induced expenditures.
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G: The standard abbreviation for government purchases by the governement sector, especially when used in the study of macroeconomics. This abbreviation is most often seen in the aggregate expenditure equation, AE = C + I + G + (X - M), where C, I, and (X - M) represent expenditures by the other three macroeconomic sectors, household, business, and foreign. See also | government purchases | government | government sector | government purchases of goods and services | aggregate expenditures | investment expenditures | consumption expenditures | net exports | C | I | X | M |
Recommended Citation:G, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 10, 2025].
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MARGINAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for small children selling products door-to-door.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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ATC
Average Total Cost
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