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May 28, 2022 

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UNVERIFIABLE AXIOM: A basic precondition or assumption underlying a theory that can not be tested against real world data, but must accepted without verification. Unverifiable axioms are commonly derived from personal beliefs, political views, and cultural values.

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AUTONOMOUS EXPENDITURE: An aggregate expenditure (you know them as consumption, investment, government purchases, and net exports) that is unrelated to national income or gross domestic product. These four aggregate expenditures are conveniently separated into two types, autonomous, which is our current topic of expenditures unrelated to national income or GDP, and induced expenditures, expenditures which ARE related to national income or GDP. Autonomous expenditures cause shocks in the macroeconomy, which result in changes in income and production. These income/production changes then "induce" further changes in aggregate expenditures, our induced expenditures.

     See also | aggregate expenditures | induced expenditure | consumption expenditures | investment expenditures | government purchases | net exports | gross domestic product | national income | business cycle | multiplier | accelerator |


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DISEQUILIBRIUM PRICE

A price that does not achieve equilibrium in the market. A disequilibrium price is either above or below the equilibrium price. A price below the equilibrium price creates a shortage and a price above the equilibrium price creates a surplus. In both case, the market imbalance prompts the price to change, moving toward the equilibrium price.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for broken fingernail clippers.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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