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SPATIAL: A modifying term used to indicate a connection or relation to space, and by inference the study of urban and regional economics, as suggested by the term spatial differentiation (which means differences in the concentration of economic activity across space). This term is commonly used to make people some exceedingly intelligent by asking questions like "Did you consider spatial factors in your analysis?" However, in so doing be careful that the word is pronounced "spatial", not "special." This just confuses the situation.
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MARGINAL PROPENSITY TO CONSUME The proportion of each additional dollar of household income that is used for consumption expenditures. The marginal propensity to consume (abbreviated MPC) is another term for the slope of the consumption line and is calculated as the change in consumption divided by the change in income. The MPC plays a central role in Keynesian economics. It quantifies the consumption-income relation and the fundamental psychological law. It is also a foundation for the slope of the aggregate expenditures line and is critical to the multiplier process. A related consumption measure is the average propensity to consume.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for door-to-door salesmen.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Posterity: you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it. " -- John Quincy Adams, 6th U. S. president
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W
Wage
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