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DISSAVING: Negative saving during a given period of time in which consumption expenditures exceed disposable income. Dissaving is made possible by spending past or future disposable income on current consumption, that is, using income saved from previous periods or borrowing income to be earned in future periods. Saving is generally illustrated by the vertical difference when between the consumption line and the 45-degree line. Dissaving results when the 45-degree line lies above the consumption line.
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AUTONOMOUS INVESTMENT Business investment expenditures that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"He who hesitates is poor. " -- Mel Brooks, writer, director, comedian
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JLE
Journal of Law and Economics
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