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SIMPLE EXPENDITURE MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in an aggregate expenditure (consumption expenditures, investment expenditures, government purchases, or net exports) when consumption is the only induced expenditure. This is the least complicated expenditure multiplier possible, based exclusively on induced consumption, and is the inverse of the marginal propensity to save. This simple multiplier becomes more complicated by adding other induced expenditures.
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ECONOMIC GROWTH, PRODUCTION POSSIBILITIES Economic growth is the process of increasing the economy's ability to produce goods and services. It is achieved by increasing the quantity or quality of resources. This process can be illustrated as an outward shift of the production possibilities curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for jovial bank tellers.
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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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"Chance favors only the prepared mind." -- Louis Pasteur, biologist
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BIS
Bank for International Settlements
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