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October 5, 2026 

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REAL-BALANCE EFFECT: A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect.

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AUTONOMOUS SAVING

Household saving that does not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in saving. Autonomous saving is best thought of as a baseline level of saving (usually negative) that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the saving function or the saving line. The alternative to autonomous saving is induced saving, which does depend on income.

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"Courage is the ladder on which all the other virtues mount."

-- Claire Boothe Luce, diplomat, writer

Creating WEALTH

Wealth -- what is it and how do you get it? Perhaps one of those home business franchises that sell cleaning products, housewares, or perfume can be your source of financial independence. And, as evidenced by those late-night infomercials, the always lucrative area of real estate investment is almost certain to turn you into a gadzillionaire by next Thursday. Or perhaps tinkering in the financial markets with penny stocks, gold futures, or silver options is more your cup of tea. (My personal favorite is the Darling Donna's Chimney Sweep outfit that gives you the opportunity for a meaningful career in the high-profile field of chimney maintenance products.) The question for today is: Are any of these get-rich-quick schemes better than buying a lottery ticket?
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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?

The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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American Air Export and Import Company
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