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MARGINAL PROPENSITY TO SAVE: The proportion of each additional dollar of household income that is used for saving. Or alternatively, this is the change in saving due to a change in disposable income. Abbreviated MPS, the marginal propensity to save is the slope of the saving or propensity-to-save line. It also takes center stage for the multiplier effect. In particular, the inverse of the MPS is the simple expenditure multiplier. The sum of the marginal propensity to save and the related concept, the marginal propensity to consume, is equal to one.
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REQUIRED RESERVES The reserves (vault cash and Federal Reserve deposits) that banks are required by government to keep to back up deposits. The primary use of required reserves is to process daily checkable deposit transactions. The government regulator in charge of setting reserve requires is the Federal Reserve System. Required reserves are usually in the range of 3 to 10 percent for checkable deposits and substantially less (0 percent) for savings deposits. Any legal reserves held by banks over those required to back deposits, termed excess reserves or free reserves, are available for interest-generating loans.
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Planning On SOCIAL SECURITY?This may be the greatest day of my life. The musical group to top all musical groups -- The Strollers -- has just released its latest CD with a song that's certain to be a foot-tapping classical. Of course, you know the song of which I speak -- "Sidewalking." Let's stop into the Musical Sound CD Emporium in the Shady Valley Central Town Sprawling Hills Shopping Mall and fulfill my dreams. Everyone in Shady Valley, however, does not share my joy. As the seventeen year old Emporium clerk, Alicia Hyfield, completes my transaction, she confesses more than a bit of disgruntlement over here just-issued paycheck. A little investigation reveals some displeasure with the size of the FICA deduction. Her disgruntlement isn't lessened to know that this is for the government's social security program that's suppose to provide a source of income in her golden years. She seems more than a bit skeptical of ever seeing any returns. Maybe we can alleviate her concerns (and mine) with a quick run through social security.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Habit is a cable; we weave a thread of it each day, and at last we cannot break it. " -- Horace Mann, educator
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SUR
Seemingly Unrelated Regressions
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