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MARGINAL PROPENSITY TO IMPORT: The proportion of each additional dollar of household income that is used for imports. Or alternatively, this is the change in imports due to a change in disposable income. Abbreviated MPI, the marginal propensity to import plays a minor role in modifying the aggregate expenditure line and the multiplier effect.
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KEYNESIAN AGGREGATE SUPPLY CURVE An aggregate supply curve--a graphical representation of the relation between real production and the price level--that reflects the basic principles of Keynesian economics. The Keynesian aggregate supply curve actually comes in two versions. The basic version is reverse-L shaped, with a horizontal segment connected to a vertical segment at a sharp corner. The modified version is also reverse-L shaped, but the vertical and horizontal segments have positive slopes and connecting corner is rounded. An alternative is the classical aggregate supply curve.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"One worthwhile task carried to a successful conclusion is worth half-a-hundred half-finished tasks. " -- Malcolm S. Forbes, publisher
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ACT
Advance Corporation Tax
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