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SAVING-INVESTMENT EQUALITY: A classical economic proposition stating that flexible prices ensure an equality between saving and investment. This equality is essential to obtain the classical economic conclusion that unrestricted markets achieve and maintain full employment. This is one of the three assumptions underlying classical economics. The other two assumptions are flexible prices and Say's law.
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CONSTANT RETURNS TO SCALE A given proportional change in all resources in the long run results in the same proportional change in production. Constant returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by 10 percent, and output also increases by 10 percent. This is one of three returns to scale. The other two are increasing returns to scale and decreasing returns to scale.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"When we do the best that we can, we never know what miracle is wrought in our life, or in the life of another." -- Helen Keller
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M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
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