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INDUCED EXPENDITURE: An aggregate expenditure (consumption, investment, government purchases, and net exports) that depends on national income or gross domestic product. These four aggregate expenditures are conveniently separated into two types, induced, which is our current topic of expenditures unrelated to national income or GDP, and autonomous expenditures, expenditures which are unrelated to national income or GDP. Induced expenditures are graphically depicted as the slope of the aggregate expenditures line, and depend in large part on the marginal propensity to consume. The induced relation between income and expenditures form the foundation of the multiplier effect triggered by changes in autonomous expenditures.
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ELASTICITY: The relative response of one variable to changes in another variable. The phrase "relative response" is best interpreted as the percentage change. For example, the price elasticity of demand, one of the more important applications of this concept in economics, is the percentage change in quantity demanded measured against the percentage change in price. Other notable economic elasticities are the price elasticity of supply, income elasticity of demand, and cross elasticity of demand. See also | elastic | inelastic | relatively inelastic | perfectly inelastic | relatively elastic | unit elastic | perfectly elastic | price elasticity of demand | price elasticity of supply | income elasticity of demand | cross elasticity of demand | elastic demand | inelastic demand | inelastic supply | elastic supply | elasticity determinants | elasticity and demand slope | elasticity alternatives | coefficient of elasticity | midpoint formula | arc elasticity | point elasticity |
Recommended Citation:ELASTICITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 14, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: elasticity
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FEDERAL FUNDS A common term for Federal Reserve deposits held by commercial banks, especially when these deposits are loaned between banks through the Federal funds market. The interest rate charged for these interbank loans is termed the Federal funds rate. Federal funds are used by individual banks to meet reserve requirements and the total held by the banking system is manipulated by the Federal Reserve System in the conduct of monetary policy.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for telephone calls from long-lost relatives.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"In order to create there must be a dynamic force, and what force is more potent than love." -- Igor Stravinsky, violinist
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AOQ
Average Outgoing Quality
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