|
|
ELASTICITY: The relative response of one variable to changes in another variable. The phrase "relative response" is best interpreted as the percentage change. For example, the price elasticity of demand, one of the more important applications of this concept in economics, is the percentage change in quantity demanded measured against the percentage change in price. Other notable economic elasticities are the price elasticity of supply, income elasticity of demand, and cross elasticity of demand.
Visit the GLOSS*arama
|
|
|
|
|
SLOPE, NET EXPORTS LINE The negative slope of the net exports line is based on the marginal propensity to import (MPM). Because net exports are exports minus imports, the induced change in imports causes an opposite change in net exports. As such, the slope of the net exports line is negative, less than zero (but greater than negative one). The slope of the net exports line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for broken fingernail clippers.
Your Complete Scope
This isn't me! What am I?
|
|
|
The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
|
|
|
"A man flattened by an opponent can get up again. A man flattened by conformity stays down for good. " -- Thomas Watson Jr., executive
|
|
AEA
American Economic Association
|
|
|
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
|
|
