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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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M1 The narrow-range monetary aggregate for the U.S. economy containing the combination of currency (and coins) issued by government and held by the nonbank public and checkable deposits issued by banking institutions. M1 contains the two items that function as THE medium of exchange for the U.S. economy. M1 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M2 and M3.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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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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"Live in such a way that you would not be ashamed to sell your parrot to the town gossip." -- Will Rogers
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DARA
Decreasing Absolute Risk Aversion
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