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ACCELERATOR: The ratio between investment expenditures and the change in gross domestic product. This is based on the notion that business investment depends on the rate of growth of aggregate output. If the economy is expanding, in other words, then the business sector invests in more capital goods to produce the extra output needed. This accelerator effect modifies and magnifies the simply multiplier effect based on the induced consumption and the marginal propensity to consume.
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AVERAGE PRODUCT AND MARGINAL PRODUCT A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for pencil sharpeners with an attitude.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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Singapore Stock Exchange
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