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UNEMPLOYMENT COMPENSATION: A system of government sponsored insurance, created by the Social Security Act (1935), that provides benefits to unemployed workers. Funding is obtained by taxes on employers. The system is mandated by the federal government, but operated by each state. As such, the amount and duration of the benefits differ from state to state.
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SLOPE, CONSUMPTION LINE The positive slope of the consumption line is also termed the marginal propensity to consume (MPC). This slope is greater than zero but less than one, reflecting induced consumption and the Keynesian psychological law of consumer behavior that consumption increases by less than the increase in income. The slope of the consumption line provides the foundation for the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"A successful man is one who can lay a firm foundation with the bricks others have thrown at him. " -- David Brinkley, newsman
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