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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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RESOURCES Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Resources are often given the more descriptive term factors of production.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for celebrities who speak directly to you through your television.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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LIML
Limited Information Maximum Likelihood
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