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A: The common notation for the "intercept" term of an equation specified as Y = a + bX. Mathematically, the a-intercept term indicates the value of the Y variable when the value of the X variable is equal to zero. Theoretically, the a-intercept is frequently used to indicate exogenous or independent influences on the Y variable, that is, influences that are independent of the X variable. For example, if Y represents consumption and X represents national income, a measures autonomous consumption expenditures.
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Lesson 11: Elasticity Basics | Unit 3: Measurement
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Page: 11 of 25
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- Two general types of elasticity measurements:
- Arc elasticity is an average measure of elasticity for discrete changes in two variables.
- Point elasticity is a measure of elasticity for infinitesimally small changes in two variables.
- The use of more sophisticated mathematics is helpful when calculated point elasticity.
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BANK PANIC An economy-wide problem in the financial sector and the banking industry that triggers an economy-wide business-cycle contraction or even depression. Bank panics were common throughout the 1800s and early 1900s, during which time they where the primary cause of business-cycle downturns. Bank panics usually involved bank runs that spread from bank to bank throughout the economy.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for cardboard boxes.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Managing intellectual assets has become the single most important task of business. " -- Thomas Stewart, author
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GARCH
Generalized Autoregressive Conditional Heteroskedasticity
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