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INDUCED SAVING: Household saving that depends on income or production (especially disposable, national income, or gross national product). An increase in household disposable income triggers an increase in induced saving. Induced saving is graphically depicted as the slope of the saving or propensity-to-save line, and is measured by the marginal propensity to save. The induced relation between income and saving, as well as induced expenditures, form the foundation of the multiplier effect triggered by changes in autonomous expenditures.
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AGGREGATE SUPPLY SHIFTS Changes in the aggregate supply determinants shift both the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. There are two options--an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource price shifts one or both of the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource price shifts one or both of the aggregate supply curves to left.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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JET
Journal of Economic Theory
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