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VALUE ADDED: The increase in the value of a good at each stage of the production process. The value that's being increased is specifically the ability of a good to satisfy wants and needs either directly as a consumption good or indirectly as a capital good. A good that provides greater satisfaction has greater value. In essence, the whole purpose of production is to transform raw materials and natural resources that have relatively little value into goods and services that have greater value.
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BALANCED-BUDGET MULTIPLIER A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"My father used to say to me, „Whenever you get into a jam, whenever you get into a crisis or an emergency . . .become the calmest person in the room and you'll be able to figure your way out of it. " -- Rudolph Giuliani
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WFTU
World Federation of Trade Unions
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