AmosWEB is Economics: GLOSS*arama

Tuesday
February 10, 2026

AmosWEB means Economics with a Touch of Whimsy!

LOCAL INPUT: An input that has a relatively small geographic market area due to the high cost of transportation. The high transportation cost means it is easier (that is, less expensive) to locate the production activity near the input rather than trying to bring the input to the production activity. Like many things, local inputs are a matter of degree. At the other end of the spectrum lies transferrable inputs. Natural resources of the land, such as soil fertility, weather conditions, mineral deposits, tend to have the greatest local orientation. Labor and many urban public utilities, such as water distribution and sewage disposable, also tend to fall into the local category.

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production stages (216)
number of buyers, demand determinant (144)
substitute-in-production (137)
perfect competition, characteristics (135)
complement-in-production (130)

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EXPENDITURE MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in an aggregate expenditure (consumption expenditures, investment expenditures, government purchases, or net exports). The expenditure multiplier is a key component of Keynesian economics and the study of macroeconomics, illustrating how a relatively small change in an expenditure like investment can trigger larger changes in aggregate output. The value of the expenditure multiplier depends on the marginal propensity to consume and other induced expenditures. Knowing the value of the expenditure multiplier can also indicate the amount of policy-induced government expenditures are needed to achieve a given level of aggregate output (presumably full-employment output).

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EXPENDITURE MULTIPLIER, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: February 10, 2026].

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TAXATION BASICS

Taxes are mandatory payments from members of society to governments. The total tax revenue collected from a specific tax can be identified as the product of the tax rate times the tax base. The tax base can be specified as either a physical quantity or monetary value, giving rise to two types of tax per unit tax (quantity) and ad valorem tax (value). In some cases it is useful to specify a tax rate as an average tax rate and in other cases as a marginal tax rate.

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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.

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