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FACTOR DEMAND ELASTICITY: The elasticity of a factor demand curve is affected by four things: (1) the price elasticity of demand for the good produced, (2) the production function technology and elasticity of marginal physical product, (3) the ease of factor substitutability, and (4) the share of the factor's cost relative to total cost. Changes in any of these four items can cause the price elasticity of factor demand to change. In other words, the quantity of factor services demanded will become more or less sensitive to changes in the factor price.
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AUTONOMOUS EXPORTS Exports to the foreign sector that do not depend on domestic income or production (especially national income or gross domestic product). Exports depend on foreign income or production, but not on domestic income or production. While other expenditures have both autonomous and induced components, exports are exclusively autonomous. Autonomous exports are a key part of the autonomous part of net exports. Induced net exports are due to induced imports.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for small children selling products door-to-door.
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The average length of a "business lunch" is about 36 minutes.
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"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead." -- Charles M. Schwab
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IIPF
International Institute of Public Finance
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