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ECONOMIC POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.
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SIMPLE TAX MULTIPLIER A measure of the change in aggregate production caused by changes in a government taxes that shocks the macroeconomy, when consumption is the ONLY induced expenditure. The simple tax multiplier is the negative marginal propensity to consume times the inverse of one minus the marginal propensity to consume. A related multiplier is the simple expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous expenditure.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for mail order catalogs with hidden messages.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"It is part of the American character to consider nothing as desperate. " -- President Thomas Jefferson
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AFC
Average Fixed Cost
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