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ACTIVIST POLICY: Government policies that involve explicit actions designed to achieve specific goals. A common type of activist policy is that designed to stabilize business cycles, reduce unemployment, and lower inflation, through government spending and taxes (fiscal policy) or the money supply (monetary policy). Activist policies are also term discretionary policies because they involve discretionary decisions by government. A contrast to activist policy is automatic stabilizers that help stabilize business cycles without explicit government actions.
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CONSUMPTION LINE A graphical depiction of the relation between household sector consumption and income that forms one of the key building blocks for Keynesian economics. A consumption line is characterized by vertical intercept, which indicates autonomous consumption, and slope, which is the marginal propensity to consume and indicates induced consumption. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking investment, government purchases, and net exports to the consumption line. Saving is indicated as the difference between the consumption line and the 45-degree guide line.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for slow moving vehicles with darkened windows.
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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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"If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. " -- Colin Powell, general
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GAB
General Agreements to Borrow
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