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IMPORTS LINE: A graphical depiction of the relation between imports bought from the foreign sector and the domestic economy's aggregate level of income or production. This relation is most important for deriving the net exports line, which plays a minor, but growing role in the study of Keynesian economics. An imports line is characterized by vertical intercept, which indicates autonomous imports, and slope, which is the marginal propensity to import and indicates induced imports. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the net exports line, derived as the difference between the exports line and imports line, onto the consumption line, after adding investment expenditures and government purchases.
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TOTAL PRODUCT AND MARGINAL PRODUCT: A mathematical connection between marginal product and total product stating that marginal product IS the slope of the total product curve. If the total product curve has a positive slope (that is, is upward sloping), then marginal product is positive. If the total product curve has a negative slope (downward sloping), then marginal product is negative. If the total product curve has a zero slope (horizontal), then marginal product is zero. Moreover, if the total product curve has a positive and increasingly steeper slope, then the marginal product is positive and rising. If the total product curve has a positive and decreasingly steeper slope, then the marginal product is positive but falling. See also | total product | marginal product | short-run production | slope | total-marginal rule | average-marginal rule | law of diminishing marginal returns | increasing marginal returns | decreasing marginal returns |
Recommended Citation:TOTAL PRODUCT AND MARGINAL PRODUCT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 11, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: total product and marginal product
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INVESTMENT The sacrifice of current benefits or rewards to pursue an activity with expectations of greater future benefits or rewards. Investment is the mechanism used to increase the economy's production capabilities and generate economic growth. Investment is typically used to mean the purchase of capital by business in anticipation of profit, which is termed investment expenditures.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for vindictive digital clocks with revenge on their minds.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Everyone is bound to bear patiently the results of his own example. " -- Phaedrus, Philosopher
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NIFO
Next In First Out
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