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ACCELERATOR: The ratio between investment expenditures and the change in gross domestic product. This is based on the notion that business investment depends on the rate of growth of aggregate output. If the economy is expanding, in other words, then the business sector invests in more capital goods to produce the extra output needed. This accelerator effect modifies and magnifies the simply multiplier effect based on the induced consumption and the marginal propensity to consume.
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CONTRACTION A phase of the business cycle characterized by a general period of declining economic activity. A contraction is one of two basic business cycle phases. The other is expansion. The transition from contraction to expansion is termed a trough and the transition from expansion to contraction is termed a peak. The popular term for contraction, one that frequently shows up in the media, is recession.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for gnomes hiding in cypress trees.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"My life as a writer consists of 1/8 talent and 7/8 discipline. " -- John Irving, writer
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GARCH
Generalized Autoregressive Conditional Heteroskedasticity
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