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SLOPE, SAVING LINE: The positive slope of the saving line is also termed the marginal propensity to save (MPS). This slope is greater than zero but less than one, reflecting induced saving and the Keynesian psychological law of consumer behavior that saving increases by less than the increase in income. The slope of the saving line provides the foundation for the slope of the leakages line used in the injections-leakages model. It thus also affects the magnitude of the multiplier process.
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PRODUCTION FUNCTION A mathematical relation between the production of a good or service and the inputs used. A production function captures the general relation between total production and one or more inputs. The standard production function includes labor and capital as the inputs. However, a production function is general enough that any number of inputs can be included
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"My father used to say to me, „Whenever you get into a jam, whenever you get into a crisis or an emergency . . .become the calmest person in the room and you'll be able to figure your way out of it. " -- Rudolph Giuliani
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AIO
Action Information Organization
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