|
|
MARGINAL PROPENSITY FOR GOVERNMENT PURCHASES: The proportion of each additional dollar of national income that is used for government purchases. Or alternatively, this is the change in government purchases due to a change in national income. Abbreviated MPG, the marginal propensity for government purchases is the slope of the government purchases line used in the analysis of Keynesian economics. As such, it also plays a role in the slope of the aggregate expenditure line and the multiplier effect.
Visit the GLOSS*arama
|
|
|
|
|
TAX WEDGE The difference between demand price and supply price that is created when a tax is imposed on a market. Placing a tax on a market disrupts what otherwise would be an equilibrium equality between demand price and supply price. A tax wedge results because the tax is included in the demand price paid by buyers but not in the supply price received by sellers. With standard demand (negative slope) and supply (positive slope) curves, the incidence of the tax (who pays) is divided between buyers and sellers.
Complete Entry | Visit the WEB*pedia |
|
|
|
In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
|
|
|
"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
|
|
SLLN
Strong Law of Large Numbers
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
