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JOINT PRODUCT: One of two goods that are produced jointly using the same resource--that is, the production of one good automatically triggers the production of the other. Also termed by-products or complements-in-production, a noted example is the production of two goods--beef and leather--from one resource--cattle. Another joint product example is lumber and sawdust--both produced from a single tree.
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GREEN LOGIGUIN
Your compete MICRO*scope for today
You are the type of person who was voted most likely to be a Supreme Court Justice in high school. Family and friends don't realize how good it makes you feel when sporting events end in a tie. Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for rusty deck screws. You should consider shopping at stores or businesses beginning with the letter Z, but do not buy any products with a serial number or product code containing the number 726326. Your preferred shopping venue is strip malls. Your special symbol is the equal sign (=).
Is this You?
As a Green Logiguin, you seek a balance in life and your market activities. You are logical and reasonable, always seeking to weigh costs and benefits, pros and cons, ups and downs, ins and outs, goods and bads. You are the embodiment of yin and yang. You know that there are two sides to every story and every market exchange. Sometimes you buy. Sometimes you sell. You search out the best deals, with the highest quality and lowest price.
This isn't me! What am I?
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INVESTMENT LINE A graphical depiction of the relation between investment expenditures by the business sector and the economy's aggregate level of income or production. This relation plays a key role in the study of Keynesian economics. A investment line is characterized by vertical intercept, which indicates autonomous investment, and slope, which is the marginal propensity to invest and indicates induced investment. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the investment line onto the consumption line, then adding government purchases and net exports to this stack.
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The Crystal Ball Of ECONOMIC FORECASTINGHow often has this happened to you? You've packed a tasty picnic lunch, donned your spiffy-looking swimwear, loaded up the beach blanket and umbrella, then headed for the artificial waves of the local Happy-Time Gala-World Fun-Land Water Park expecting bright sunshine and warm temperatures. However, upon reaching Happy-Time Gala-World Fun-Land Water Park you find that the economy has fallen into a deep recession, with high unemployment rates and sluggish production, and the owners of the Happy-Time Gala-World Fun-Land Water Park have been forced to turn off the artificial wave machine, dismantle the water slides, and drain the pool. (It's also raining and 50 degrees. We will, however, ignore those problems because this isn't A Pedestrian's Guide to Meteorology.)
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. " -- Henry Chester, Writer
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JPAM Journal of Policy Analysis and Management
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