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COMPLEX 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 all induced components are included in Keynesian analysis. This is the most comprehensive expenditure multiplier possible and includes not only the marginal propensity to consume/save, but also the marginal propensities for government purchases, investment, imports, and taxes. This should be compared with the simple expenditure multiplier that includes only induced consumption
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POTENTIAL REAL GROSS DOMESTIC PRODUCT The total real output (real gross domestic product) that the economy can produce if resources are fully employed. In theory this means that the economy is operating ON the production possibilities frontier. Full employment is generally indicated by achieving what is termed the natural unemployment rate. If the economy is at full employment then actual real gross domestic product is equal to potential real gross domestic product and the actual unemployment rate is equal to the natural unemployment rate. The macroeconomy is thus living up to its potential.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Do not let what you cannot do interfere with what you can do. " -- John Wooden, basketball coach
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MBA
Master of Business Administration
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