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October 3, 2023 

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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 Page: 11 of 25

Topic: Two Types <=PAGE BACK | PAGE NEXT=>

  • 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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APLS

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.
"Managing intellectual assets has become the single most important task of business. "

-- Thomas Stewart, author

GARCH
Generalized Autoregressive Conditional Heteroskedasticity
A PEDestrian's Guide
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