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LEAKAGE LINE: A line used in the injection-leakage model representing the relation between non-consumption uses of income (that is, leakages) and national income. The three leakages are saving, taxes, and imports. The foundation of the leakages line is the saving line, which is then enhanced by adding taxes and imports. The other part of the injection-leakage model is a line representing injections. The intersection of the injection and leakage lines identifies equilibrium aggregate output, or Keynesian equilibrium.
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ECONOMIC SYSTEM The assorted institutions that society uses to answer the three basic questions of allocation and address the fundamental problem of scarcity. Another, more popular term for economic system is economy. An economy, or economic system, is the structural framework in which households, businesses, and governments undertake the production and consumption decisions that allocate limited resources to satisfy unlimited wants and needs.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Things turn out best for the people who make the best of the way things turn out." -- Art Linkletter
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VAT
Value Added Tax
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