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TAX MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in a taxes. The tax multiplier is equal to the expenditure multiplier times the marginal propensity to consume. This is based on the only a fraction of the change in disposable income resulting from the change in taxes will result in a change in consumption expenditures. The tax multiplier can be used to indicate the change in fiscal policy induced government taxes are needed to achieve a given level of aggregate output (presumably full-employment output).
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MARGINAL REVENUE PRODUCT AND FACTOR DEMAND A perfectly competitive firm's factor demand curve is that negatively-sloped portion of its marginal revenue product curve. A perfectly competitive firm maximizes profit by hiring the quantity of input that equates factor price and marginal revenue product. As such, the firm moves along its negatively-sloped marginal revenue product curve in response to changing factor prices.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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Charging Up Your CREDIT CARDS (aka Plastic Money)Here's the scene: You've made your monthly stop (for the second time this week) at the Mega-Mart Discount Warehouse Super Center for a few essentials -- cashews, soap, licorice, garden hose, peanut clusters, color television, and a large inner tube for whitewater rafting. Do you pay with a check or whip out your Interstate OmniBank Platinum Diamond Express credit card? Credit card? Good choice. You don't actually have to PAY for the stuff that you're buying -- at least not right away. Your bank account is safe.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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