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October 22, 2018 

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ENVIRONMENT: All of the naturally occurring stuff that came with the planet, before it's been altered, extracted, transformed, or used up for production. It includes the air, water, land, vegetation, and wildlife.

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EXHAUSTIBLE RESOURCE: A natural resource that cannot be increased by the natural forces of the environment. The quantities of exhaustible resources are effectively fixed and thus the more used today, the less is available for use in the future. It is possible, and even expected, that exhaustible resources will be exhausted at some time in the future. Common examples of exhaustible resources are the three fossil fuels -- petroleum, coal, and natural gas. The vast array of mineral resources -- iron, silver, gold, and copper -- represent other examples.

     See also | renewable resource | scarcity rent | Hotelling's Rule | switching point | natural resources | materials balance | recycling |


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EXHAUSTIBLE RESOURCE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: October 22, 2018].


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INDUCED EXPENDITURES

Expenditures on aggregate production by the four macroeconomic sectors that depend on income or production (especially national income or even gross domestic product). That is, changes in income generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an induced component. Induced expenditures are measured by the slope of the aggregate expenditures line. The alternative to induced expenditures are autonomous expenditures, expenditures which do not depend on income.

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