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A POSTERIORI: A conclusion reached through logical reasoning based on facts and observations about the real world. This notion is closely related to the scientific verification of hypotheses and the identification of principles. A similar sounding, but opposite term is a prior, which is a unverified presumption made before an analysis is undertaken. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.

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AVERAGE PROPENSITY TO SAVE: The proportion of income, usually measured as disposal income or national income, used for household saving. It is found by dividing saving by income. The average propensity to save, abbreviated APS, is most relevant for discussions of Keynesian economics. The average propensity to save is the average amount of total household income that is devoted to saving and NOT used for consumption expenditures.

     See also | disposable income | national income | saving | consumption expenditures | household sector | Keynesian economics | marginal propensity to consume | average propensity to consume | marginal propensity to save | saving function | saving line | Keynesian economics | saving-investment equality | circular flow | financial markets |


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SLOPE, GOVERNMENT PURCHASES LINE

The positive slope of the government purchases line is also termed the marginal propensity for government purchases (MPG). This slope is greater than zero but less than one, reflecting induced government purchases. The slope of the government purchases line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.

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