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SAVING FUNCTION: The positive relation between household saving and household disposable income. The saving function is commonly presented as the saving line or propensity-to-saving line. The slope of this line is the marginal propensity to save, which is the proportion of any additional income used for saving. The saving function and the marginal propensity to saving play key roles in the multiplier and accelerator concepts. Because consumption is the difference between disposable income and saving, the consumption function is a complementary relation to the saving function.
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PER UNIT TAX A tax specified as a percentage of the quantity of a good, service, asset, or other activity. Per unit taxes are often imposed on specific goods or markets. A common per unit tax is that levied on gasoline. People pay a given tax for each gallon of gasoline purchased, regardless of the price of gasoline. An alternative is an ad valorem tax, with is a tax specified as a percentage of the value or price of a good.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
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AOQ
Average Outgoing Quality
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