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BIG BUSINESS: A small number of the largest businesses (usually corporations) in our economy that (1) produce a substantial share of total output, (2) control a bunch of our economy's resources, and (3) have a great deal of market control in their respective industries. A listing of the Fortune 500 companies provides an idea for those businesses that have achieved the status of "big." The second estate obtains most its members from the presidents, shareholders, boards of directors, and high-level managers of big business.
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MARGINAL PROPENSITY TO IMPORT The change in imports purchased from the foreign induced by a change in income or production (national income or gross domestic product). The marginal propensity to import (abbreviated MPM) is another term for the slope of the imports line and is calculated as the change in imports divided by the change in income or production. The MPM plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part to the multiplier process. A related marginal measure is the marginal propensity to consume.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"No great performance ever came from holding back. " -- Don Greene, motivational coach, former Green Beret
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JLEO
Journal of Law, Economics and Organization
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