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BUSINESS CYCLES: The recurring expansions and contractions of the national economy (usually measured by real gross domestic product). A complete cycle typically lasts from three to five years, but could last ten years or more. It is divided into four phases -- expansion, peak, contraction, and trough. Unemployment inevitably rises during contractions and inflation tends to worsen during expansions. To avoid the inflation and unemployment problems of business cycles, the federal government frequently undertakes various fiscal and monetary policies.
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INVESTMENT LINE: A graphical depiction of the relation between business investment expenditures and national income that forms one of the key building blocks for Keynesian economics. The slope of this line is positive, greater than zero, less than one, and goes by the name marginal propensity to invest. The vertical intercept of the investment line is autonomous investment. The aggregate expenditures line used in the Keynesian cross is obtained by adding this investment line, as well as, government purchases and net exports, to the consumption line. The investment line is also combined with the saving line in saving-investment model used in Keynesian economics. See also | Keynesian economics | investment expenditures | national income | marginal propensity to invest | aggregate expenditures | aggregate expenditures line | Keynesian cross | saving-investment model | induced investment | autonomous investment |
Recommended Citation:INVESTMENT LINE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: September 18, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: investment line
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INFLATIONARY EXPECTATIONS, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the inflationary expectations causes an increase (rightward shift) of the aggregate curve. A decrease in the inflationary expectations causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, federal deficit, and the money supply.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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