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AFC: The abbreviation for average fixed cost, which is fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. Average fixed cost is one of three related cost averages. The other two are average variable cost and avarage total cost. Average fixed cost decreases with larger quantities of output. Because fixed cost is FIXED and does not change with the quantity of output, a given cost is spread more thinly per unit as quantity increases. A thousand dollars of fixed cost averages out to $10 per unit if only 100 units are produced. But if 10,000 units are produced, then the average shrinks to a mere 10 cents per unit.

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EXPANSIONARY FISCAL POLICY: A form of stabilization policy consisting of an increase in government spending and/or a decrease in taxes. This policy is designed to avoid or correct the problems associated with a business cycle contraction.

     See also | fiscal policy | business cycle | contraction | government purchases | taxes | transfer payments | stabilization policies | unemployment |


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EXPANSIONARY FISCAL POLICY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: June 29, 2022].


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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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Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for door-to-door salesmen.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
"Concentration is the secret of strength in politics, in war, in trade, in short in all management of human affairs. "

-- Ralph Waldo Emerson, philosopher, poet

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