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MARGINAL REVENUE CURVE: A curve that graphically represents the relation between marginal revenue received by a firm for selling its output and the quantity of output sold. The marginal revenue curve is constructed to capture the relation between marginal revenue and the level of output, holding other variables constant.
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AUTONOMOUS SAVING Household saving that does not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in saving. Autonomous saving is best thought of as a baseline level of saving (usually negative) that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the saving function or the saving line. The alternative to autonomous saving is induced saving, which does depend on income.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. " -- Mary Parker Follett, management coach
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TIBOR
Tokyo Interbank Offered Rate (Japan)
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