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IMPACT LAG: In the context of economic policies, the time between corrective government action responding to a shock to the economy and the resulting affect on the economy. This is one of four lags in the use of economic policies. The others are recognition lag, decision lag, and action lag. The length of the impact lag, also termed outside lag, is primarily based on the speed of the multiplier process and is essentially the same for both fiscal and monetary policy. The length of the policy lags is one argument against the use of discretionary policies to stability business cycles.
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CROSS ELASTICITY OF DEMAND The relative response of a change in the demand for one good to a change in the price of another good. More specifically the cross elasticity of demand is percentage change in the demand for one good due to a percentage change in the price of another good. This notion of elasticity captures the other prices demand determinant. Three other notable elasticities are the price elasticity of demand, the price elasticity of supply, and the income elasticity of demand.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for the happiest person in the room.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Genius is an infinite capacity for taking pains. " -- Jane Ellis Hopkins, writer
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ATM
Automated Teller Machine
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