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AAUP: The abbreviation for American Association of University Professors, which is an association of university and college faculty established in 1915 to protect academic freedom. The AAUP is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.
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MARGINAL PROPENSITY TO CONSUME: The proportion of each additional dollar of household income that is used for consumption expenditures. Or alternatively, this is the change in consumption expenditures due to a change in disposable income. Abbreviated MPC, the marginal propensity to consume is the slope of the consumption or propensity-to-consume line that forms the foundation for Keynesian economics. As such, it also takes center stage for the slope of the aggregate expenditure line and the multiplier effect. The sum of the marginal propensity to consume and the related concept, the marginal propensity to save, is equal to one. See also | consumption expenditures | disposable income | consumption line | Keynesian economics | multiplier | aggregate expenditures line | marginal propensity to save | marginal propensity to import | marginal propensity to invest |
Recommended Citation:MARGINAL PROPENSITY TO CONSUME, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 25, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: marginal propensity to consume
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RISK PREMIUM The difference between a guaranteed or certain income and a risky income that generate the same level of utility. Risk premium is the amount of income that a risk adverse person is willing to pay to avoid the risk. Alternatively, it is the amount of income that a risk loving person is willing to pay to engage in risk. For risk aversion, the risk premium is the amount a person would pay for insurance.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for attractive cable television service repair people.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"Success is the ability to go from one failure to another with no loss of enthusiasm." -- Sir Winston Churchill
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FRB
Federal Reserve Board
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