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INELASTIC SUPPLY: Relatively large changes in supply price cause relatively smaller changes in quantity supplied. Inelastic supply means that changes in the quantity supplied are not very responsive to changes in the supply price. An inelastic supply has a coefficient of elasticity less than one. You might want to compare inelastic supply to elastic supply, inelastic demand, and elastic demand.
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INTERCEPT, SAVING LINE The intercept of the saving line indicates autonomous saving, saving that does not depend on the level of income or production. This can be thought of as the baseline level of saving that would be undertaken if income falls to zero. Autonomous saving is affected by the consumption expenditures determinants, which cause a change in the intercept and a shift of the saving line. The value of the intercept of the saving line is the negative of the value of the intercept of the consumption line.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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ICAPM
Intertemporal Capital Asset Pricing Model
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