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June 23, 2018 

AmosWEB means Economics with a Touch of Whimsy!

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ECONOMIST: A individual, usually a homo sapien, who has received extensive training in economic theories, applications, and analysis and whose primary employment involves the research, teaching, consulting, and other applications of this economic training. Many economists are employed by institutions of higher education for the expressed purpose of enlightening impressionable college students in the wily ways of economic analysis. Other economists are employed by government agencies -- federal, state, and local -- for the expressed purpose of applying economic analysis to important policy decisions.

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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 |


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INVESTMENT LINE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: June 23, 2018].


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AVERAGE FACTOR COST CURVE, MONOPSONY

A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average factor cost curve for a firm with market control is positively sloped.

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Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for cardboard boxes.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. "

-- Napoleon Hill, author

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