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July 15, 2025 

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AMERICAN FEDERATION OF LABOR: Started as a collection of craft unions in 1886, this is now one half of the umbrella organization for labor unions in the United States (the AFL part of AFL-CIO). As a collection of craft unions, the AFL primarily represented skilled workers in particular occupations. However, it also contained unions representing unskilled industrial workers, which led to a rift among AFL members in 1938 and spawned the formation of the Congress of Industrial Organizations (CIO). This rift was closed in 1955, when both joined together to form the AFL-CIO, which is the primary advocate for workers and labor unions in the United States.

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AUTONOMOUS SAVING: Household saving that is unrelated to income or production (especially disposable, national income, or gross national product). This is saving that would occur even if household disposable income was zero. Autonomous saving is graphically depicted as the vertical intercept of the saving or propensity-to-save line. Autonomous saving is the equal to the negative value of autonomous consumption. Changes in autonomous saving, along with changes in autonomous expenditures, are what trigger the multiplier effect.

     See also | saving | consumption expenditures | disposable income | gross domestic product | saving line | autonomous consumption | autonomous expenditure | multiplier | induced saving |


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AUTONOMOUS SAVING, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 15, 2025].


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SAVING FUNCTION

A mathematical relation between saving and income by the household sector. The saving function can be stated as an equation, usually a simple linear equation, or as a diagram designated as the saving line. This function captures the saving-income relation, the flip side of the consumption-income relation that forms one of the key building blocks for Keynesian economics. The two key parameters of the saving function are the intercept term, which indicates autonomous saving, and the slope, which is the marginal propensity to save and indicates induced saving. The injections-leakages model used in Keynesian economics is based on the saving function.

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