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June 17, 2024 

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PPC: The abbreviation for production possibilities curve, which is a curve that illustrates the production possibilities for the economy. A production possibilities curve represents the boundary or frontier of the economy's production capabilities. That's why it's also frequently termed a production possibilities frontier (or PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.

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POVERTY LINE: The official measure of the income needed by a family based on family size, location, and characteristics of the head of the household. The official U.S. poverty line is based on more of a relative poverty level rather than an absolute poverty level. For example, a family of two living in a rural area would need a different amount of money to stay above the official poverty line that would a family of four living in a city.

     See also | income | welfare | poverty | absolute poverty | relative poverty level | poverty rate | income distribution |


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AUTONOMOUS INVESTMENT

Business investment expenditures that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time at a flea market looking to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for cardboard boxes.
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This isn't me! What am I?

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"We must be willing to let go of the life we have planned, so as to have the life that is waiting for us. "

-- E. M. Forster, writer

IRBNE
Income Received But Not Earned
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