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ASSET: Something that you own. For a person, assets can be financial, like money, stocks, bonds, bank accounts, and government securities, or they can be physical things, like cars, boats, houses, clothes, food, and land. The important assets for our economy are the output we have produced and the resources, capital, and natural resources used to produce that output.
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INDUCED CONSUMPTION Household consumption expenditures that depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income induce changes in consumption. Induced consumption captures the fundamental psychological law put forth by John Maynard Keynes. It is measured by the marginal propensity to consume (MPC) and is reflected by the positive slope of consumption line. The alternative to induced consumption is autonomous consumption, which does not depend on income.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for slow moving vehicles with darkened windows.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"God grants victory to perseverance. " -- Simon Bolivar, South American liberator
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MPP
Marginal Physical Product
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